JOHANNESBURG - Public Investment Corporation (PIC) board chairperson David Masondo has resigned as the state-owned entity's governance crisis worsens.
Masondo's departure continues weeks of uncertainty at the PIC.
The turmoil has included the resignation of six board members in the space of a week.
PIC CEO Patrick Dlamini has also been placed on precautionary suspension.
The latest resignation will put the SEO under more scrutiny given that it manages more than R3-trillion in assets.
Masondo has defended the outgoing board's record.
The PIC's leadership has been accused of infighting and poor administration.