"We are delighted at Iain's appointment. Over the last year, acting as Interim CEO, he has worked to steer Old Mutual through some significant leadership and operational challenges," Trevor Manuel, chairman of the board, said in a statement. (Photo: Old Mutual)
Old Mutual Ltd. named acting CEO Iain Williamson as the African insurer's permanent head after winning a legal battle against Peter Moyo, who tried to get the CEO job back following his dismissal, according to Bloomberg.
The High Court in Johannesburg in January upheld an appeal by Old Mutual against a judgment delivered in July last year to temporarily reinstate Moyo, who was first suspended two months earlier before being fired. Old Mutual's board cited a "material breakdown in trust and confidence" over an alleged conflict of interest, which Moyo denies.
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Denny Jacob
Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected].
