PIC starts search for a new CEO as Sithole’s term nears its end
Asset manager the Public Investment Corporation (PIC) has initiated a search to identify and appoint a new CEO to succeed Abel Sithole, whose term will be coming to an end effective July 2025.
The search is a responsible and proactive move by the board to allow sufficient time to appoint a new CEO and to ensure a seamless leadership transition with Sithole’s term expiring in eight months, the entity says in a statement.
Sithole has assured the board of his commitment to ensure a smooth handover of responsibilities to his successor during this transition.
The advertisement calling for applications for the position of PIC CEO will be published in the media over the weekend and will also be available on the PIC’s website.
The board says it is committed to finding a dynamic, visionary and results-oriented leader who will steer the company to new heights. It will engage in a comprehensive search to identify qualified candidates with the required asset management industry expertise, strategic acumen and a proven record of achieving sustainable business growth.
“The PIC board is grateful to Mr Sithole for his exceptional leadership and invaluable contribution to the company's turnaround, growth and success during his tenure,” chairperson David Masondo says.
“Mr Sithole played a pivotal role in expanding the company's market presence, restoring ethics and integrity to the PIC’s investment-, governance- and business processes, ensuring that the recommendations of the Mpati Commission were implemented, and in the consistent growth in assets-under-management of the PIC’s clients,” Masondo highlights.
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