In a statement, the organisation said the decision followed investigations into alleged transgressions within AIDC-EC, as well as concerns relating to internal culture that it said had begun affecting business operations.
To maintain operational continuity, the board said it had resolved to appoint an acting CEO with immediate effect.
AIDC-EC did not disclose the nature of the allegations or provide further details regarding the investigations.
The board said it was treating the allegations and investigation process with seriousness, fairness and respect.
It also requested that the media allow the organisation time and space to conclude the matter within applicable legal processes.
No further details were provided regarding the expected duration of the suspension or timeline for the investigation.
