PIC suspends CEO, appoints new acting chief investment officer

The board of the Public Investment Corporation (PIC) has placed its CEO Patrick Dlamini on precautionary suspension, saying it is necessary 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. "In line with applicable labour legislation and internal PIC policies, the precautionary suspension is intended to ensure a fair, objective and independent investigation into these allegations. The suspension does not, in any way, constitute a finding nor is it a pronouncement of any wrongdoing on the part of the CEO," the PIC clarifies.

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