PIC denies report it’s considering Kennedy Bungane as CEO

JOHANNESBURG - The Public Investment Corporation has denied that it is considering a former banking executive as its next chief executive as it seeks to fill a position which has become increasingly sensitive given the successive departures of its CEO and temporary replacement.

Citing unnamed people, Bloomberg reported that the PIC was considering Kennedy Bungane, formerly of Absa as its new CEO. The move would follow the abrupt departure of Dan Matjila in November and the suspension of stand-in successor Matshepo More in March.

Question: if Mr Kennedy Bungane does indeed become the CEO of the PIC, as former CEO of Pembani (linked to Ramaphosa), would that be a governance issue?🤔🤔🤔

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