The Public Investment Corporation has not had a permanent chief executive since the resignation of Dan Matjila in December 2018.
If the Public Investment Corporation board had its way, Abel Sithole, the principal executive officer of the Government Employees Pension Fund would have been heading the R2 trillion investment organisation right now.
“We want to believe that we can negotiate anywhere between a month or two months before he comes to the PIC full-time,” said Khoza, adding that it was not resolute. While he did not provide any names, Khoza said one of the candidates is “a group chief executive of a leading bank who was a serious contender”. The process was also sensitive to issues of gender and one “outstanding” candidate was a woman.
“The two work together,” he said. “Right now we are making the final preparations for implementing the recommendations of the Mpati commission and we [PIC and the GEPF] will be working closely together as a good number of the items we are dealing with will overlap”. Matjila was found to have acted improperly and in breach of his fiduciary duties in a number of investments and he and More were among the senior executives who “abused their positions of trust and responsibility and victimised employees”.
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