By Adriano Marchese

 

Old Mutual Ltd. (OMU.LN) Friday said that the board has suspended Peter Moyo, its chief executive, with immediate effect.

The South African insurer cited a "material breakdown in trust and confidence" between the board and Mr. Moyo. Old Mutual did not provide any further details.

The company said Chief Operating Officer Iain Williamson will assume the role of acting chief executive. Mr. Moyo has been with Old Mutual since June 2017.

 

Write to Adriano Marchese at adriano.marchese@dowjones.com

 

(END) Dow Jones Newswires

May 24, 2019 02:19 ET (06:19 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
Old Mutual (LSE:OMU)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more Old Mutual Charts.
Old Mutual (LSE:OMU)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more Old Mutual Charts.