Old Mutual’s lawyers have reviewed Mr Moyo’s latest application and have confirmed that the application is based on a mistaken understanding of the legal position. Old Mutual will oppose the application and has been advised that there is no reason why it should not continue with the process to recruit a permanent CEO in the interim. It intends to do so. Mr Moyo is entitled to raise his arguments in court. Old Mutual will deal with those arguments in court and will not litigate through the media.
We will continue to act responsibly, to remain focused on our core business, and to protect the interests of the company and its stakeholders on an ongoing basis.
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