PIC board expresses confidence in CEO
J– The Public Investment Corporation (PIC) Board expressed its confidence in the ability and integrity of Chief Executive Officer (CEO) Daniel Matjila, management and staff of the PIC.
“The board wishes to state that it will continue to exercise its fiduciary duties without fear or favour, including accountability to all stakeholders. The board also noted media allegations prior to t he meeting about its intention to remove the CEO. The board wishes to reiterate that it rejects these allegations with the contempt they deserve,” the board said in a statement on Friday.
“The CEO made representations to the board responding to allegations levelled against him through the media. The CEO provided detailed documentary evidence of the decisions made by the PIC and that the process followed was in accordance with all policies, procedures and delegation of authority of the PIC.”
In the statement on Friday, the board said that it took the decision to communicate t he outcomes of its special meeting held in Pretoria.
“Ordinarily, the board would not publicly disclose the outcomes of its deliberations. However, the board deems it necessary to break f r om t his t r aditi on, gi ven t he heightened interest from the media and other stakeholders,” it said.
“Following the deliberation by the board on the allegations and representations, the board accepted the representations of the CEO.