Old Mutual has argued that the Johannesburg High Court did not consider the real reason why its axed CEO Peter Moyo was fired when it ruled in July that he must return to lead the company.
The country’s second largest life insurer fired Moyo in June. But Judge Brian Mashile instructed the company to reinstate him in July, saying his dismissal was illegal because he was not afforded a disciplinary hearing. Old Mutual is appealing Mashile’s ruling before a full bench of three judges in Johannesburg.
When it filed its appeal, the insurer asked that if it cannot present its argument before a full bench, it must be allowed to take its case to the highest appeal court in the land, the Supreme Court of Appeal in Bloemfontein. — Wires.