PPC, chief financial officer 'agree to separate'

The cement company PPC [JSE: PPC] and its chief financial officer have "mutually agreed to separate", the company announced on Thursday.

Tryphosa Ramano will step down on October 31 after eight years with PPC, the company said. She has agreed to take on a consultancy role with PPC to ensure continuity. 

Ronel van Dijk has been appointed as interim CFO and as an executive director. 

The Dutch cement executive Roland van Wijnen, who previously worked for Swiss multinational LafargeHolcim, took over as CEO of PPC at the start of this month.

In a trading update for the four months to end July, the company said its EBITDA increased by 5 – 10% thanks to higher cement prices and ongoing cost cutting which saved the company R70 a tonne in cement production.

PPC chairman Jabu Moleketi said the company would immediatly start the process to appoint a permanent CFO.