Old Mutual to oppose Moyo's bid for reinstatement

Tabby Tsengiwe from Old Mutual spoke to eNCA. #Dstv403

JOHANNESBURG - Old Mutual intends to oppose former CEO Peter Moyo's court bid to be reinstated.

The insurer suspended Moyo in May, citing a breakdown of their relationship of trust and confidence. 

The group then fired him last month over alleged payments made to a private company Moyo co-founded.

READ: Moyo fights to get his job back

Old Mutual is an investor in that company. 

Moyo approached the courts, seeking reinstatement and to stop the group from filling the position, among other things. 

Tabby Tsengiwe from Old Mutual says Moyo is using the media to divert attention from the real issue at hand.

"The real issue here was around how he as the CEO of Old Mutual managed the conflict that came about out of the relationship between NMT and Old Mutual as preference shareholder in NMT," Tsengiwe said.

Watch the full interview above.