By Johnathan Paoli
The Public Investment Corporation (PIC) has announced the commencement of a search for a new CEO to succeed current leader Abel Sithole, whose term will conclude in July 2025.
The country’s leading asset manager said the proactive decision aimed to facilitate a smooth leadership transition and ensure the continued success of the organisation, which managed significant pension funds for public servants and assets for the Unemployment Insurance Fund.
PIC board chairman David Masondo expressed his appreciation for Sithole’s contributions during his tenure in a statement on Thursday.
“The PIC board is grateful to Mr Sithole for his exceptional leadership and invaluable contribution to the company’s turnaround, growth and success,” he said.
Masondo said that under Sithole’s guidance, the PIC had seen remarkable progress, including the recent achievement of surpassing R3 trillion in assets under management on 26 September.
Sithole, who previously served as the head of the
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