Cabinet had approved that the board of directors of the PIC proceeds with the appointment of Sithole as the CEO of the PIC and executive director for five years.
CAPE TOWN – The principal executive officer of the Government Employees Pension Fund Abel Sithole takes the hot seat at the Public Investment Corporation as chief executive of Africa's largest asset manager.
Mboweni said the chairperson of the PIC, Dr Reuel Khoza, would elaborate on the process followed for the appointment and on Sithole’s terms and conditions of the employment. “We thank Mr Hako for his contribution at the PIC, steering the organisation through very difficult times. We also congratulate Sithole on his appointment as chief executive and wish him well in leading the organisation and in restoring its integrity,” said Mboweni.
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