adminJOHANNESBURG. – PPC Ltd, which is considering a merger with rival cement maker AfriSam Group Pty Ltd, has appointed Darryll Castle as chief executive officer as it seeks to end months of management turmoil. Castle, the former CEO of Trafigura Mining Group and Metorex Group Ltd, will start the position on January 12, the company said in a statement today.
He replaces Ketso Gordhan, who resigned in September amid a boardroom dispute and had been fighting to win his job back.
Darryll has first-hand operations and projects experience on the African continent, having worked in the DRC, Zambia, Angola and Tanzania. PPC has been seeking a replacement for Gordhan, who resigned in September after his attempt to fire Chief Financial Officer Tryphosa Ramano was blocked by fellow directors.
PPC’s shares had declined 23 percent between September 19, the trading day before Gordhan’s resignation was announced, and the close on Tuesday. – Bloomberg
Peter Tanyanyiwa
Online Reporter