Matshepo More has been appointed acting chief executive of the PIC. Photo: Supplied

CAPE TOWN – The chief financial officer of the Public Investment Corporation (PIC), Matshepo More, has been appointed acting chief executive of Africa’s largest asset manager, to take over from Dr Dan Matjila, who resigned on Friday.

This after the PIC had board deliberated on the letter from the long-serving chief executive expressing his intention to resign.

In a letter addressed to PIC staff the chairperson, Mondli Gungubele, states: 

“After careful consideration of this correspondence, I regret to inform you that the Board resolved that in the CEO’s interest and that of the PIC it accepts the resignation with immediate effect.

“The Board further resolved that More as the executive director and chief financial officer will act as the chief executive officer.

“Colleagues I can never over-emphasise the confidence that the Board has expressed in you as the human resource of PIC. You have proven to be resilient during turbulant times that the PIC went through. We, therefore, have no doubt that you will continue with the dilligence, professionalism and commitment that you have shown to the PIC in executing your duties.

“The vision of the PIC to meet and exceed our clients’ mandate can only be achieved with your continued hard work.

“The board will avail itself soon to engage further in any other matters that may be of concern to ensure continued stability.”

The PIC Board wished Dr Matjila well in all his future endeavours, stating that it had no doubt that he would still contribute to the country and the continent at large.

BUSINESS REPORT ONLINE