Dan Matjila has resigned as the Public Investment Corporation (PIC) CEO with immediate effect on Friday.
The board said in a short statement that it deliberated on Matjila’s expressing his intention to resign and “resolved that in the interest of the PIC and the CEO, we accept his resignation with immediate effect”.
The reasons for his resignation were not disclosed.
In an internal staff letter seen by TimesLIVE, PIC chairperson Mondli Gungubele said executive director and CFO Matshepo More will be the acting CEO.
BusinessLIVE reported on Wednesday that Matjila had given the board until Friday to accept his terms for voluntarily leaving as his relationship with the board had broken down.