Why PIC board decided to let Matjila go

Chairperson of the PIC Mondli Gungubele says the board has decided to let CEO Dan Matjila go despite him offering to stay on for five months to do a proper hand over to the new CEO.

Gungubele says the board viewed the contents of Matjila's letter as a resignation which it then decided to execute with immediate effect.

The board felt that it was not helpful to accede to his resignation conditions, in other words, the resignation is his initiative.

Mondli Gungubele, Chairperson of the PIC

The chief financial officer, Matshepo More has been appointed as acting chief executive as the investigator never found her guilty of any wrongdoing during the investigation, says Gungubele.

He says because she was never found wanting, the board saw it fit to appoint her as the acting CEO.

Listen below to hear more from the chairperson of PIC and its way forward.


This article first appeared on CapeTalk : Why PIC board decided to let Matjila go


Recommended

by NEWSROOM AI
Read More
Matjila must not play games, he must go now - Bantu Holomisa

Matjila must not play games, he must go now - Bantu Holomisa

Public Investment Corporation (PIC) CEO Dan Matjila has reportedly offered to step down from the PIC, but only in five months.

 Dan Matjila won't escape PIC inquiry, says Sikonathi Mantshantsha

Dan Matjila won't escape PIC inquiry, says Sikonathi Mantshantsha

Matjila has previously been accused of channelling PIC funds meant for corporate social investment to help his alleged girlfriend.

Holomisa vows to 'nail down' PIC looters amid reports Matjila wants a payout

Holomisa vows to 'nail down' PIC looters amid reports Matjila wants a payout

UDM leader Bantu Holomisa says his party will oppose in court if the board recommends a golden handshake for the PIC boss.

Nene announces plans to establish inquiry into the PIC

Nene announces plans to establish inquiry into the PIC

Finance Minister Nhlanhla Nene met with the board on Wednesday to discuss governance issues at the state-owned fund manager.

Holomisa adamant, Lebashe Investment suing the general over corruption claims

Holomisa adamant, Lebashe Investment suing the general over corruption claims

UDM leader Bantu Holomisa says he is ready to face those who are taking him to court.

Bantu Holomisa accuses Ramaphosa of keeping mum on PIC corruption

Bantu Holomisa accuses Ramaphosa of keeping mum on PIC corruption

In his letter to the President, Holomisa accuses prominent business people of being involved in large-scale corruption at the PIC.

There’s no truth in this - PIC CEO on allegations against Zweli Mkhize

There’s no truth in this - PIC CEO on allegations against Zweli Mkhize

The Money Show’s Bruce Whitfield interviews Public Investment Corporation CEO Dr Daniel Matjila.

Matjila 'going nowhere' says PIC of controversial CEO

Matjila 'going nowhere' says PIC of controversial CEO

Daniel Matjila has previously been linked to a number of questionable investments and financial dealings.

Dan Matjila must be suspended immediately - UDM

Dan Matjila must be suspended immediately - UDM

Finance Minister Nhlanhla Nene is looking afresh at corruption allegations made last year against Matjila.

Popular articles
10 best business books reviewed on The Money Show in 2018

10 best business books reviewed on The Money Show in 2018

Know someone who’d appreciate a business book for Christmas? These were the best ones of the year…

'The corrupt use anti-corruption campaigns to divert attention from themselves'

'The corrupt use anti-corruption campaigns to divert attention from themselves'

Political analyst Steven Friedman says corrupt people use anti-corruption campaigns to neutralise those fighting corruption.

ANCWL calls on the ANC to suspend Pule Mabe

ANCWL calls on the ANC to suspend Pule Mabe

ANC Women's League says Mabe must be suspended pending the outcome of a sexual harassment complaint lodged against him.

'Evidence is solid. Poor people’s money was used illegally. Shivambu benefitted'

'Evidence is solid. Poor people’s money was used illegally. Shivambu benefitted'

Ray White interviews Pauli van Wyk, an investigative journalist with Scorpio at Daily Maverick.

RMB and a paediatric surgeon from Baragwanath came together to save little lives

RMB and a paediatric surgeon from Baragwanath came together to save little lives

Ray White interviews Prof Jerome Loveland (Paediatric Surgery at Wits and Baragwanath) and Gareth Armstrong (Rand Merchant Bank).

ANC Spokesperson Pule Mabe accused of sexual harassment

ANC Spokesperson Pule Mabe accused of sexual harassment

In a letter seen by Eyewitness News a 26-year-old woman says Mabe wanted to have sex with her in exchange for a job as his PA.

[LISTEN] EFF's Floyd Shivambu was a beneficiary of stolen money - Pauli van Wyk

[LISTEN] EFF's Floyd Shivambu was a beneficiary of stolen money - Pauli van Wyk

Journalist Pauli van Wyk outlines how VBS approved Brian Shivambu’s R1. 46m home loan, with a little help from his brother.

[WATCH] Johnny Clegg opens up about emotional 'The Crossing' video

[WATCH] Johnny Clegg opens up about emotional 'The Crossing' video

South African legend, musician Johnny Clegg talks about the moving recording of his track The Crossing by over 50 artists.