These shocking revelations were from another PIC board member, Dudu Hlatshwayo, at her testimony yesterday in front of former president of the Supreme Court of Appeal, Lex Mpati, at the PIC Commission of Inquiry into impropriety and corruption under former chief executive of the PIC Dan Matjila’s tenure.
According to Hlatshwayo’s testimony, during an in-camera meeting of the board four weeks ago, PIC chairman and Deputy Finance Minister Mondli Gungubele took a call from Finance Minister Tito Mboweni, who told him that he should either resign “today or be fired on Monday”.
When Gungubele returned to brief the board about the sacking, Zulu then hatched a plan for the entire board to resign together, stating in the letter that they would continue as board members until such a time that the minister appointed an interim board.
“Ms Zulu came up with the wonderful idea of resigning en masse. She quickly and flawlessly dictated the letter of resignation to the company secretary and after having been proof-read by everyone, the letter was signed by all directors. On Monday, February 4, Minister Mboweni had not responded to the directors nor appointed the new board,” said Hlatshwayo.