{"id":3745,"date":"2021-02-03T21:56:34","date_gmt":"2021-02-03T21:56:34","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/?p=3745"},"modified":"2021-02-03T18:13:46","modified_gmt":"2021-02-03T18:13:46","slug":"pic-is-looking-for-more-board-members","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/pic-is-looking-for-more-board-members","title":{"rendered":"PIC is looking for more board members"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong><a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a> &#8211; <a href=\"https:\/\/www.africa-press.net\/south-africa\">South-Africa<\/a>. <\/strong><\/span>CAPE TOWN &#8211; THE GOVERNMENT is seeking new board members for the Public Investment Corporation (PIC) after a number of interim board members did not renew their board membership and left the organisation on Friday.<\/p>\n<p>A 14-member board had been appointed on an interim basis for an annual term ending July 2020, following en masse resignations at the end of 2018, but Finance Minister Tito Mboweni extended the term by 15 months in the interests of stability and at a time when the governance of the PIC was still being probed by the Mpati Commission of Inquiry.<\/p>\n<p>\u201cWhen the term was extended, some board members indicated then that they would not be renewing their board membership for the full duration of 15 months of the new interim term,\u201d the PIC said in response to Business Report questions.<\/p>\n<p>They were Irene Charnley, Sindi Mabaso-Koyana, Maria Ramos and Bhekithemba Gamedze. \u201cFuthi Mtoba (appointed deputy chairperson) and Karabo Morule have been appointed to the board. The shareholder is working on the appointment of a permanent board,\u201d the PIC said.<\/p>\n<p>The board remains under the chairmanship of Dr Reuel Khoza. The Mpati Commission made some damning findings about the workings of the previous board, including that it was essentially a \u201crubber stamp\u201d for the previous chief executive, Dan Matjila, and that it had repeatedly abdicated its responsibilities, even in instances where it had expressed reservations about particular investments.<\/p>\n<p>The PIC has in the meantime indicated that it would implement the commission\u2019s findings.<\/p>\n<p><b>BUSINESS REPORT<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; South-Africa. CAPE TOWN &#8211; THE GOVERNMENT is seeking new board members for the Public Investment Corporation (PIC) after a number of interim board members did not renew their board membership and left the organisation on Friday. A 14-member board had been appointed on an interim basis for an annual term ending July 2020, [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":3744,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,8,12],"tags":[274,315,275],"class_list":["post-3745","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-homepage-english","category-policy","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>PIC is looking for more board members - South Africa<\/title>\n<meta name=\"description\" content=\"CAPE TOWN - THE GOVERNMENT is seeking new board members for the Public Investment Corporation (PIC) after a number of in ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/pic-is-looking-for-more-board-members\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PIC is looking for more board members\" \/>\n<meta property=\"og:description\" content=\"CAPE TOWN - 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