South Africa’s PPC has confirmed that Ketan Manecklal Gordhan (“Ketso”) has resigned as CEO and as an Executive Director of the Board with immediate effect.
According to the statement, Ketso has resigned due to differences of opinion with the Board, regarding Board procedures for the approval of certain decisions.
The company has already begun the recruitment process for a new CEO. In the meantime, Bheki Sibiya, the Non-Executive Chairman of PPC, will take up the role of Executive Chairman with immediate effect. In addition, Tim Ross, an independent Non-Executive Director and Chairman of the Audit Committee, will serve as Lead Independent Director of the Board.
“Ketso has been instrumental in the execution of the African expansion strategy of PPC which has now gained significant traction. He also should be commended for his excellent work on closing the remuneration gap within the organisation as well as implementing an innovative employee housing support initiative. He has agreed to continue providing input to crucial projects that he was leading,” stated Bheki Sibiya.
“The growth momentum of the company remains on track; we have signed EPC contracts for four projects, Rwanda, DRC, Ethiopia and Zimbabwe, and construction is underway. PPC has a capable and experienced management team led by Mr Pepe Meijer, Managing Director - International, who has over twenty-five years’ experience with the company. He will continue to implement the expansion of the business into the rest of Africa. The South African business remains in good hands under the leadership of Mr Richard Tomes and Mr Johan Claassen as Joint Managing Directors, who collectively have over 40 years of experience at PPC,” added Sibiya.
“I have really enjoyed my time at PPC and am proud to have implemented a number of new initiatives and seen the company on an exciting growth path. I am leaving with a heavy heart,” said Ketso Gordhan.
The Board of PPC has expressed its thanks to Mr Gordhan for his contribution to the company and has wished him well in his future endeavors.
Adapted from press release by Louise Fordham
Read the article online at: https://www.worldcement.com/africa-middle-east/23092014/ppc-confirms-ketso-gordhan-resignation-and-announces-interim-appointments-537/