The PIC has announced the suspension of its chief operating officer, Vuyani Hako, while a slew of resignations indicate a major shake-up at the organisation. Image Via Facebook
The Public Investment Corporation (PIC) has announced the suspension of its chief operating officer (COO) Vuyani Hako, while a slew of resignations indicate a major shake-up at the organisation that holds billions in government pension funds.
In a statement, the PIC said Hako has been placed on precautionary suspension following allegations of misconduct made against him.
“The PIC believes that the suspension is in the best interest of both the employee and the employer to ensure that an independent enquiry can proceed unencumbered,” the entity said.
It said that its executive head: Research Projects Development, Sholto Dolamo, who has been in the ranks for 10 years and until recently was the chief investment officer, tendered his resignation from the organisation effective at the end of June.
Another resignation is that of Lusanda Kali, the acting executive head for Developmental Investments and Private Equity, which too is effective at the end of June.
“The PIC would like to express its gratitude for Dolamo and Kali for their service and wish them all the best as they pursue new challenges and opportunities,” it said.
It said it would assure all its stakeholders that the resignations and suspension of the COO would not destabilise the organisation from delivering on its investment mandate.
“The recent appointment of Kabelo Rikhotso as CIO (chief information officer), combined with an established skills pool, will ensure that the PIC continues to deliver on its investment objectives,” it said
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