PIC head Dan Matjila resigns, acting chair appointed

The Public Investment Corporation has resolved to accept the resignation of its CEO Dan Matjila, according to its statement released on Friday evening.

This follows days of reports that he was on the cusp of tendering his resignation to the largest asset management body in the continent. The resignation is with immediate effect.

Matjila was the subject of an internal investigation into allegations that business and kickbacks were inappropriately ringfenced around associates of Matjila.

"The Board wishes to state that Dr Matjila has over the years in various capacities, served the PIC with dignity and distinction. He has played an integral role in fulfilling the PIC’s vision of meeting and exceeding our clients’ mandates," the statement said.

The PIC said under Matjila’s leadership, the PIC grew from strength to strength attracting "dedicated and competent employees of world class calibre".

"The board wishes Dr Matjila well in all his future endeavours and has no doubt that he can still contribute to the country and the continent at large," the statement concluded.

New acting CEO

According to Business Day, the state-run asset manager appointed CFO Matshepo More as acting director. 

AmaBhungane journalist Stefaans Brummer tweeted an image of the letter. 

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