In a brief update to shareholders on Friday, the group's board said Moyo had been suspended for a"material breakdown in trust and confidence between him and the board".Iain Williamson, Old Mutual''s chief operating officer, will assume the role of acting CEO.
The board it decided to suspend Moyo after having"various engagements" with him, but did not provide more information.
Fin24 Perhaps a misunderstanding around his privelidged entitlement ?
Fin24 Let me fix it for you. 'Old Mutual suspends its CEO.' That's how you normally do it
Fin24 Once in a while there is good news, well done Old Mutual.
Fin24 I thought suspension of executives was only at SOEs like Transnet, SABC, Prasa, Denel etc, now at private sector as well, interesting times indeed!
Fin24 It has started, a big scandal looming in this company since last year and is a matter of time before it blows out. Another steinhoff saga
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