Sithole to assume PIC office on August 1

31st July 2020 By: Simone Liedtke - Writer

Newly-appointed Public Investment Corporation (PIC) CEO Abel Sithole will assume his duties from August 1.

Sithole’s appointment was announced on May 27, following Cabinet approval.

Sithole joins the PIC from the Government Employees Pension Fund, where he was the principal executive officer for the past five years. He is said to have “extensive industry experience”, having previously held senior positions in notable companies and having served on the boards of several institutions.

PIC board chairperson Dr Reuel Khoza says the board believes that Sithole will “assist the board in ensuring that the PIC’s integrity and credibility are restored, and that sharp focus is placed on delivering on clients’ investment objectives”.

Moreover, Sithole will also work with the board to fill vacant executive positions to ensure stability in the organisation.