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Dan Matjila to step down as PIC CEO – report

Matjila has not actually submitted his resignation but has merely proposed that he will do so at the end of January.

Former Public Investment Corporation (PIC) CEO Dan Matjila. Picture: PIC

JOHANNESBURG - Public Investment Corporation (PIC) CEO Dan Matjila has reportedly offered to step down from the PIC, but only in five months.

According to Fin24, Matjila made the unusual offer earlier this month.

It is understood the PIC board will convene in the next few days.

Matjila has not actually submitted his resignation but has merely proposed that he will do so at the end of January in terms of a plan that will see him remain in charge and actively engaged in handing over to a successor.

Under the plan, he will remain chief executive during a three-month notice period ending in April.

He will also avail himself to assist the commission of inquiry which President Cyril Ramaphosa has appointed to investigate the affairs of the PIC.

(Edited by Thapelo Lekabe)