March 20, 2020 / 6:29 AM / 12 days ago

Ex-Old Mutual boss Moyo resigns from Nedbank board

JOHANNESBURG, March 20 (Reuters) - Fired Old Mutual boss Peter Moyo has resigned from his post on the board of Nedbank, the lender said on Friday.

Moyo, who had been a non-executive director at Nedbank, has been battling with Old Mutual over his sacking since he was dismissed following a dispute over a conflict of interest in June 2019.

After winning a series of victories in court, he has lost at his last few hearings.

An agreement between Old Mutual and Nedbank allows the insurer to nominate one director to the board as long as it’s stake is equal to or greater than 15% in Nedbank Group.

Reporting by Emma Rumney Editing by Tanisha Heiberg

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