PIC board ex­presses con­fi­dence in CEO

Sunday Observer - - NEWS - OHANNESB U R G Times Live

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.

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