PIC_Public Investment Corporation
PRETORIA - Cabinet has appointed a new board chairperson at the Public Investment Corporation.
The PIC board will be chaired by the Deputy Minister in the Presidency for Planning, Monitoring and Evaluation, Seiso Mohai.
The appointment follows weeks of turmoil at the state-owned asset manager.
It also follows the resignation of the previous chairperson, Deputy Finance Minister David Masondo and several board members.
The shake-up also comes after the suspension of the PIC's chief executive amid an ongoing governance investigation triggered by whistleblower allegations.
“The PIC management team is ready to welcome new Board members, and we are committed to work constructively with the Board to rebuild public trust and provide assurance to all PIC clients that their retirement savings and social security funds continue to show robust growth," said the Acting Chief Executive for the PIC, Batandwa Damoyi.
"The immediate priority is to ensure a seamless induction process for all new Board members, so that the Board can begin its oversight duties without delay.”
The following Non-Executive Directors (NEDs) have been appointed to the PIC Board:
• Seiso Mohai (Chairperson)
• Patience Nqetho
• Lebogang Mokgabudi
• Adv. Gatlelane Ouma Rasethaba
• Vivien McMenamim
• Moipone Ramoipone
• Bajabulile Swazi Tshabalala
• Itani Mafune