PIC pays IT executive R7m to leave
The Public Investment Corporation (PIC) has paid its chief IT executive Vuyokazi Menye about R7.5m to leave the organisation, while the organisation signed an acknowledgment that she had done nothing wrong. Her subordinate, head of IT security Simphiwe Mayisela, was dismissed following a hearing last Friday. The PIC is the biggest asset manager in the South African economy and manages close to R2-trillion in government pension and other funds. The two are casualties of a frantic attempt by PIC CE Dan Matjila and his board to unmask the identity of an anonymous whistle-blower who e-mailed executives and board members with allegations that Matjila had corruptly funded "a girlfriend". However, the attempt to find the whistle-blower, who went under the name of James Nogu, went awry when the South African Police Service decided it was more apt to investigate the whistle-blower’s claims than to discover his identity. Both staff members were suspended on a charge that they had failed to in...
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