PIC appoints new CEO

Published: 2025-05-15 14:41 +02:00 by Nqobile Dludla tag: Public sector

The Public Investment Corp has appointed Patrick Dlamini as its new CEO, effective 1 June.

Patrick Dlamini. Image: DBSA

The Public Investment Corp (PIC) has appointed Patrick Dlamini as its new CEO, effective 1 June, the fund management giant said on Thursday.

The PIC, which managed assets worth just over R3-trillion as of 26 September and is the largest investor in companies listed on the JSE, started the search last year for a new CEO to succeed Abel Sithole, whose five-year term ends in July.

Among its significant assets, the PIC holds majority stakes in pharmaceutical firm Aspen Pharmacare and miner Gold Fields. It also has stakes in a range of listed entities in the technology and telecommunications sectors, including a significant minority stake in Telkom.

The PIC, manages assets worth over R3-trillion and is the largest investor in companies listed on the JSE

Dlamini’s appointment has been approved by the government, the PIC said in a statement.

Chairman David Masondo said Dlamini had a record of “strategic and ethical leadership”, and would be expected to address the immediate concerns facing the PIC, specifically in its unlisted portfolio. He did not elaborate.

“His expertise in leading complex turnarounds, fostering operational excellence and driving sustainable growth, positions him to advance the PIC’s investment mandate,” Masondo said.

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