Old Mutual said it would appeal the judgement by the High Court in Johannesburg which ordered the company to reinstate its axed CEO Peter Moyo. The court found that Moyo's axing was unlawful and that he should be reinstated temporarily. It also ruled that the insurer could not take steps to replace him in the interim.
Moyo reported for duty this morning despite a statement by Old Mutual last night that it would appeal the court order reinstating him. In its statement,"Old Mutual said in light of its appeal,the court order would therefore be suspended and its interim CEO Ian Williamson would remain in place." however his legal representative disputed this, saying that Moyo have every right to return to work as instructed by the court.
Moyo apparently entered the building via the back entrance at 08:00 this morning.
In a letter to Bowman Gilfillan Attorneys, who are acting on behalf of Old Mutual,Moyo's legal representative states that if the company takes any steps to prevent his client from returning to his office, they will be in "contempt of court".
However Old Mutual's spokesperson has maintained that its statement still stands.
Moyo was suspended in May and axed in June,with Old Mutual citing a conflict of interest and a breakdown in trust.