PIC hit by complaint against COO, two senior resignations

The Public Investment Corporation (PIC) has placed its COO Vuyani Hako on suspension after allegations of misconduct were lodged against him.

The state-owned entity, which on Thursday also announced two resignations of senior staff members, said the suspension was precautionary.

“The PIC believes the suspension is in the best interest of both the employee and the employer to ensure an independent inquiry can proceed unencumbered.”

The PIC's executive head of research and projects development, Sholto Dolamo, and Lusanda Kali, the acting executive head for developmental investments and private equity, are leaving at the end of June. Dolamo joined the PIC more than 10 years ago, served in several capacities and was, until recently, the acting chief investment officer (CIO). 

“The PIC would like to assure all its stakeholders that these resignations and the suspension of its COO will not destabilise the PIC’s ability to deliver on its investment mandate.

“The recent appointment of Kabelo Rikhotso as CIO, combined with an established skills pool, will ensure the PIC continues to deliver on its investment objectives.”

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