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Cape Town - Shares in PPC [JSE:PPC] closed higher on Monday after the cement company announced Peter Nelson will fill the post permanently as chairperson.
Nelson, who has been at the helm of the board since former chairperson Bheki Sibiya retired, will take up the role permanently with effect from October 24 2016.
"Having successfully led the board during the capital raise period, and given his outstanding performance, the board believes that Mr Nelson is well suited to lead the board and the company on a permanent basis," he board said in a JSE SENS statement.
Nelson was appointed to the board as an independent non-executive director on January 25 2015. His experience covers manufacturing, mining, telecommunications, healthcare, leisure, property, packaging and the motor industry in listed and private entities in South Africa, the United Kingdom, Zimbabwe and Nigeria.
He has served as CFO on several boards including Telkom, Netcare, Mondi and was the financial director of PPC for the period 2000 to 2003.
Shares in the cement company closed up 0.17% at R5.95 on Monday.
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