Old Mutual Chair Trevor Manuel Explains His Silence On Peter Moyo Job Battle






Former finance minister Trevor Manuel. Picture: Siyabulela Duda/GCIS

JOHANNESBURG – Old Mutual board chair Trevor Manuel said that he’d deliberately been silent about the sacking of Peter Moyo, saying the issues were not about two individuals.

Old Mutual said it had fired Moyo for a break down in trust emanating from a conflict of interest with his company, NMT Capital.

Moyo’s lawyers have argued that the reason he was fired as CEO was that he challenged the payment of legal fees for Manuel and his triple conflict of interest with Rothschild.

Manuel said the process was not an event, but a process and the Old Mutual board could not be bullied by him.

“In the course of this litigation toward the end of June, there was this notion that this whole thing was about two individuals. It was never about two individuals. It’s never been about the chair. It’s been about the board taking leave of the chief executive. That is the theatre of what has played out. For the chair to be placed in the media every day is likely to become something that is untrue.”