PIC denies report it’s considering Kennedy Bungane as CEO

Citing unnamed people, 'Bloomberg' reported that the PIC is considering Kennedy Bungane, formerly of Absa as its new CEO.

Picture: pic.gov.za

JOHANNESBURG - The Public Investment Corporation (PIC) has denied that it is considering a former banking executive as its next chief executive as it seeks to fill a position which has become increasingly sensitive given the successive departures of its CEO and temporary replacement.

Citing unnamed people, _Bloomberg _reported that the PIC was considering Kennedy Bungane, formerly of Absa as its new CEO.

The move would follow the abrupt departure of Dan Matjila in November and the suspension of stand-in successor Matshepo More in March.

However, the state pension fund has dismissed the reports as speculative and baseless.