Ayo Technology Solutions, the company into which the Public Investment Corporation pumped R4.3bn late last year, announced the resignations of its CEO and chief investment officer on Friday. It said CEO Kevin Hardy, who was appointed in January, and CIO Siphiwe Nodwele had resigned with immediate effect on Friday, but it did not say why. Naahied Gamieldien, the current CFO, would act as CEO while retaining her position, the company said. Nodwele's position will not be filled immediately. A statement from newly elected board chairman Wallace Mgoqi said changes to the executive team had "indicated just how committed and seriously we take corporate governance". When approached for comment, the PIC told Business Times: "We have had several engagements with the company and are comfortable that governance issues are being addressed." Ayo has been one of the PICs more controversial investments, largely due to its links to businessman Iqbal Survé, whose ties with the PIC and its CEO, Dan Ma...
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