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PIC names Vuyani Hako as acting CEO as Matshepo More suspended

This follows the PIC board's decision to place current acting CEO Matshepo More on precautionary suspension with immediate effect.

Vuyani Hako. Picture: Supplied

JOHANNESBURG - The Public Investment Corporation (PIC) Board has announced the appointment of Vuyani Hako as acting CEO following its decision to place Matshepo More on precautionary suspension with immediate effect.

In a statement released on Tuesday, the PIC board referred to allegations pertaining to interference with the process of the commission of inquiry that were brought to its attention.

"The board deliberated on the matter and concluded that to ensure free participation of staff in the commission of inquiry process, to place Ms Matshepo More on precautionary suspension with immediate effect.

Hako is currently serving as the executive head of properties at the PIC.

Early in March, Luyanda Ntuane, who was the former executive head of IT at the PIC, testified at the commission of inquiry where he claimed he was unfairly suspended due to a conflict with the then CFO More.

He said it was frustrating and disempowering working for her because she wouldn’t meet him in person and would delay the approval of critical requests.

He said this impacted on his work and affected operations in the IT division.

Ntuane said he was eventually given a suspension letter which accused him of procurement irregularities and sexual harassment, which he has denied.