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.
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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.
