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PIC Leadership Shake-Up | Johannesburg News
Description
David Masondo, chair of South Africa’s PIC and deputy finance minister, has resigned amid mounting governance chaos — just as the board faces potential dissolution. His exit follows the departure of six directors in a week, leaving the R3.6-trillion fund without a CEO or CIO. Masondo claims his step down will restore stability, citing a R1-trillion portfolio growth and governance reforms under his watch. He insists legal processes must handle pending whistleblower and CEO allegations — even as the PIC braces for leadership upheaval.
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