New board for PPC - report

Johannesburg - The board of Portland Pretoria Cement (PPC) [JSE:PPC] has been newly constituted following the company's annual general meeting in Sandton this week, Business Day reported on Tuesday.

After three hours at the meeting in Sandton on Monday, shareholders elected six new board members, the newspaper reported.

From a reduced list of 10 nominees, shareholders elected former Reserve Bank governor Tito Mboweni, former PPC finance director Peter Nelson, Nicky Goldin, Timothy Leaf-Wright, former Afrisam CEO Charles Naude and Daniel Ufitikirezi.

Ufitikirezi is chairperson of PPC's Rwandan business. Two other PPC directors retired by rotation. The appointment of Darryll Castle as CEO was also approved by shareholders.

The newspaper reported that Castle would on Tuesday recommend his preferred executive committee and whether he wants Tryphosa Ramano to continue as finance director.

Ramano reportedly played a central role in the departure of former CEO Ketso Gordhan, who resigned suddenly in September last year and then sought to be reinstated. Bheki Sibiya's position as chairperson would be voted on on Tuesday, Business Day reported.