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Finding new PIC CEO will be difficult task, says chair Reuel Khoza

Newly appointed interim Public Investment Corporation (PIC) board chair Reuel Khoza said that a permanent CEO would be appointed in the next three to six months.

A screengrab of businessman Reuel Khoza.

JOHANNESBURG – Newly appointed interim Public Investment Corporation (PIC) board chair Reuel Khoza said that a permanent CEO would be appointed in the next three to six months.

Finance Minister Tito Mboweni announced Khoza's appointment, breaking the tradition of having the deputy Finance Minister assume the role.

Khoza joined the PIC after having served on the boards of Eskom, Nedbank and Assupol. His deputy, Sindi Mabaso-Koyana, also comes from corporate, having served on the Eskom board.

The CEO position at the PIC remains vacant after Dan Matjila, the last person to permanently occupy the position, resigned last year amid allegations of corruption and nepotism.

Former CFO Matshepo More then took over but was sacked just five months into her stint after claims that she tampered with the work of the commission of inquiry.

Vuyani Hako is now acting in that position.

Khoza said that finding a permanent CEO would be difficult.

“As head of an organisation of this magnitude and complexity, it’s not like just getting somebody to come around and do some work. Such people are bound to be having worked for other organisations because the waiting period can be up to six months.”

Khoza said the appointment would be addressed with the utmost urgency.

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