The PIC, one of the largest fund managers in Africa, said in a statement that it had placed acting CEO Matshepo More on a 'precautionary suspension' and that Vuyani Hako, executive head of properties, had been appointed in her place.
Supplied/ PIC
The Public Investment Corporation suspended its acting chief executive on Tuesday over alleged interference in an inquiry into impropriety at the R2 trillion fund. The PIC, one of the largest fund managers in Africa, said in a statement that it had placed acting CEO Matshepo More on a"precautionary suspension" and that Vuyani Hako, executive head of properties, had been appointed in her place.
More did not respond to a request for comment on her suspension, which comes several weeks after the PIC's board of directors tendered its resignation because of allegations of wrongdoing by four directors. It was not immediately clear how More is alleged to have interfered with the judicial inquiry into the PIC, which President Cyril Ramaphosa authorised following allegations that some directors had used their position for personal gain.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PIC INQUIRY: Acting CEO Matshepo More suspended by PIC boardThe PIC board has suspended acting CEO Matshepo More, the asset manager confirmed on Tuesday after allegations that she was interfering with the PIC inquiry. They’re not the only allegations More faces.
Read more »
Acting CEO Matshepo More suspended, PIC confirmsThe PIC is accused of using disciplinary processes to intimidate and punish employees appearing at the inquiry into the state-owned asset manager
Read more »
The PIC places acting CEO Matshepo More on suspensionThe PIC, one of the largest fund managers in Africa, said in a statement that it had placed acting CEO Matshepo More on a 'precautionary suspension' and that Vuyani Hako, executive head of properties, had been appointed in her place.
Read more »
JUST IN: PIC board suspends acting CEO Matshepo More | IOL Business ReportMore has been in the media recently after being implicated in corruption by a whistle-blower, who goes by the pseudonym James Nogu/Noko.
Read more »
PIC witness testifies to unlawful treatmentPIC Communications Manager Nomzamo Petje says she suffered unlawful treatment at the hands of PIC management.
Read more »
Acting PIC CEO suspended for ‘interfering’ with commissionMatshepo More — the PIC's acting chief executive — has been placed on precautionary suspension following allegations she has been interfering with the Mpati inquiry.
Read more »
PIC acting CEO suspendedThe PIC board says it wants to ensure the free participation of staff in the PIC inquiry process.
Read more »
PIC confirms acting CEO has been suspendedMatshepo More has been placed on precautionary suspension 'to ensure free participation of staff in the Commission of Inquiry process'.
Read more »
PIC Acting CEO suspended over claims of tampering with inquiryThe Public Investment Corporation’s (PIC) acting CEO Matshepo More has been placed on precautionary suspension, following allegations that she was interfering in processes related to the commission of inquiry into the asset manager.
Read more »
New NPA unit to study offences arising from inquiries into Sars, PIC and state captureThrough the establishment of the directorate, Cyril Ramaphosa has intensified the state’s campaign against corruption and state capture, the presidency says
Read more »