# Deputy minister of Finance, David Masondo, has resigned as the Public Investment Corporation board chairperson, amid a governance crisis engulfing South Africa’s largest asset manager. His resignation follows the precautionary suspension of CEO Patrick Dlamini and the resignation of six non-executive directors. Masondo says his resignation is in the interests of the country and the continued stability of the PIC. He says throughout his tenure, the board acted collectively, in good faith, based on sound legal advice and in accordance with the principles of good governance.
PIC board chairperson, David Masondo, has resigned amid a governance crisis