John Oliphant has been dismissed as the principal executive officer of South Africa's 1.43 trillion rand ($128 billion) Government Employees Pension Fund, Pretoria, for misconduct, said a statement from the pension fund Thursday.
Mr. Oliphant, who was suspended in October 2013, “has been dismissed following the finalization of a disciplinary process that found him guilty of the charges of misconduct leveled against him,” the statement said.
Mr. Oliphant was suspended after breaching GEPF policy on payments to suppliers, according to a PricewaterhouseCoopers report obtained by Bloomberg News. GEPF's board of trustees was satisfied that due process was followed in the disciplinary hearing, the statement said.
“I am attempting to meet with the chairperson of the board to get clarity on the matter,” Mr. Oliphant said in an earlier e-mailed response to questions following a report of his dismissal.
In April, Mr. Oliphant said he disagreed with PwC's findings that he had acted irregularly.
