Opinion / Columnist
Old Mutual shareholders cannot keep losing money while Trevor and Peter fight
17 Aug 2019 at 13:15hrs | Views
The mudsling case between Peter Moyo and Old Mutual Plc continues to take centre stage in today's corporate trail. This is a case that has robbed shareholders close to USD$1,5 billion dollars due to stock loss of 27%.
The difference, in this case, is bank robbers are masked and they use guns while Burglars wear dark clothing and use crowbars. The chairman and the board of Old Mutual dressed in ties and wearing designer suits are robbing our investments by going through this nasty court process., losing millions of dollars as the court case drags on.
We have a board of men and women who are betraying the trust of thousands of ordinary shareholders, both majority and minority shareholders. The chairman and board of both men and women decided that they use Old Mutual's multimillion-dollars to engage top lawyers and barristers to make sure that they win the labour case depriving shareholders dividends at the end of the financial year.
A company of Old Mutual Plc magnitude should not have a board that is taken to court to protect its integrity this is a board that lost a labour case and is now working on a technicality to salvage its credibility.
Old Mutual Plc chairman and board should have known that you "don't fire a CEO over the phone", never ever underestimate the grit of a CEO, you do not fire a CEO without an agreed exit plan/package and communication plan. The chairman and board of Old Mutual should know that, if you are firing a powerful personality manage the communication by meeting with the individual in person, if you are expecting a challenge please get someone trustworthy to do it on your behalf, in person. Keeping in mind that the Labour Relation Act is followed by the book.
How was Old Mutual Plc able to own 20% of Peter Moyo's NMT company when he was the CEO of Old Mutual Plc and what is going to happen once a new board is appointed.
Regards
Engineer Jacob Kudzayi Mutisi
Old Mutual Shareholder
The difference, in this case, is bank robbers are masked and they use guns while Burglars wear dark clothing and use crowbars. The chairman and the board of Old Mutual dressed in ties and wearing designer suits are robbing our investments by going through this nasty court process., losing millions of dollars as the court case drags on.
We have a board of men and women who are betraying the trust of thousands of ordinary shareholders, both majority and minority shareholders. The chairman and board of both men and women decided that they use Old Mutual's multimillion-dollars to engage top lawyers and barristers to make sure that they win the labour case depriving shareholders dividends at the end of the financial year.
A company of Old Mutual Plc magnitude should not have a board that is taken to court to protect its integrity this is a board that lost a labour case and is now working on a technicality to salvage its credibility.
How was Old Mutual Plc able to own 20% of Peter Moyo's NMT company when he was the CEO of Old Mutual Plc and what is going to happen once a new board is appointed.
Regards
Engineer Jacob Kudzayi Mutisi
Old Mutual Shareholder
Source - Engineer Jacob Kudzayi Mutisi
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