The board of the Public Investment Corporation (PIC) has accepted the resignation of CEO Daniel Matjila with immediate effect.
This follows the recent letter from Matjila in which he expressed his intention to resign.
In a statement, the Board says the decision is in the interests of both the PIC and the CEO.
Has PIC CEO resigned or fake news? pic.twitter.com/jZYuFcU4fA
— Bantu Holomisa (@BantuHolomisa) November 23, 2018
Earlier this week, it emerged that Matjila had offered to step down on condition that he is actively involved in introducing his successor to the job.
However, it’s not clear if there were any conditions attached to his departure.
The Board wished Matjila well and thanked him for serving the organisation with dignity and distinction.
Matjila has been associated with alleged questionable deals.
The Board has maintained that under his leadership, the PIC has grown from strength to strength and has attracted dedicated and competent employees of world class calibre.
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