Africa's Biggest Fund Manager's Ex-CEO Said to Contest Exit
- Daniel Matjila had wanted to see out his notice period
- The Public Investment Corp. said late last week he had quit
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Daniel Matjila, the outgoing head of South Africa’s Public Investment Corp., is contesting the circumstances surrounding his departure from Africa’s largest money manager, according to people familiar with the matter.
Matjila, 56, argues that the PIC misinterpreted his offer to resign last week, said the people, who asked not to be named as the information isn’t public. He had intended to quit formally in early 2019 and serve out a notice period, but the PIC considered his departure to be with immediate effect, they said.