The Public Investment Corporation (PIC) has appointed CFO Batandwa Damoyi acting CEO, with immediate effect, to ensure continuity of leadership and the uninterrupted execution of the PIC’s mandate while the relevant internal processes are under way.
This follows after the PIC on July 13 placed CEO Patrick Dlamini on precautionary suspension to give him sufficient space and time to respond to allegations of impropriety against him that were submitted to the board in a whistleblower report last month.
The PIC at the time said it had also resolved that August Van Heerden would cease to serve as acting chief investment officer and that that role would now be held by PIC head for fixed income in listed investments Leon Smit.
Damoyi is a Chartered Accountant (CA(SA)) with more than 17 years of executive leadership experience in financial management, governance and strategic leadership across the public and private sectors. Since joining the PIC as CFO in April 2024, she has played a key role in strengthening the corporation’s financial stewardship and governance.
The PIC board says it is confident that Damoyi will provide the leadership and stability required to ensure the PIC continues to serve its clients and stakeholders with integrity and excellence.
