EDITORIAL: Abel Sithole faces huge challenge at PIC
Much of the new CEO’s time will be spent figuring out exactly what happened over the preceding ten years
The long road to recovery for the embattled state-owned asset manager took flight last week with the Public Investment Corporation’s (PIC’s) first permanent successor since Daniel Matjila rolling up his sleeves and sliding his shoes under the desk for the first time on Monday.
The challenge facing new CEO Abel Sithole, who was formerly head of the PIC’s largest client, the Government Employees Pension Fund (GEPF), is a formidable one. Far from inheriting a clean break with the past — despite the departure of Matjila — much of Sithole’s time over the next few years is going to be taken up figuring out what happened over the preceding 10 years...
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