The Public Investment Corporation (PIC) has suspended COO Vuyani Hako as a precautionary measure after allegations of misconduct were levelled against him.
The PIC says Hako’s suspension is in the best interest of both the employee and the employer to ensure that an independent inquiry can proceed unencumbered.
In addition, the PIC notes that research and projects development executive head Sholto Dolamo has tendered his resignation from the PIC, with effect from June 30; as has developmental investments and private equity acting executive head Lusanda Kali.
Dolamo joined the PIC over ten years ago, serving in several capacities and was, until recently, acting CIO.
“The PIC would like to express its gratitude to both Dolamo and Kali for their service and wish them all the best as they pursue new opportunities and challenges,” the PIC says in a June 2 statement.
The PIC says these resignations and the COO suspension will not affect the PIC’s ability to deliver on its investment mandate.
The recent appointment of Kabelo Rikhotso as CIO, combined with an established skills pool, will ensure the PIC continues to deliver on its investment objectives, the organisation adds.