OLD MUTUAL CEO PETER MOYO SUSPENDED
OLD Mutual has suspended its CEO Peter Moyo.
In a brief update to shareholders yesterday, the group’s board said Moyo had been suspended for a “material breakdown in trust and confidence between him and the board”.
Moyo is the CEO of Old Mutual Limited and Old Mutual Life Assurance Company Limited.
Iain Williamson, Old Mutual’s chief operating officer, will assume the role of acting CEO.
The board said it decided to suspend Moyo after having “various engagements” with him, but did not provide more information. — Fin24.