To view the PDF file, sign up for a MySharenet subscription.

PPC - Pretoria Portland Cement Company Limited - Appointment Of A New Chief

Release Date: 26/05/2009 14:30
Code(s): PPC
Wrap Text

PPC - Pretoria Portland Cement Company Limited - Appointment Of A New Chief Executive Officer Pretoria Portland Cement Company Limited (Incorporated in the Republic of South Africa) (Company registration number: 1892/000667/06) JSE Code: PPC ISIN: ZAE000125886 ("PPC" or "the company") APPOINTMENT OF A NEW CHIEF EXECUTIVE OFFICER The board of directors of PPC is pleased to announce the appointment of Mr. Paul Stuiver to the board as Chief Executive Officer Designate from 1 June 2009. He will succeed Mr. John Gomersall as Chief Executive Officer from 1 July 2009. PPC Group chairman, Bheki Sibiya, commented: "In 2008 John indicated that he intended to retire from PPC in 2009 and since then, the board has been involved in an extensive process to identify the best candidate to succeed him. Paul is no stranger to PPC having occupied various positions over 18 years at PPC between 1983 and 2001, the last 7 years of which were as a PPC director. He was appointed CEO of Barloworld Logistics in 2001 and subsequently grew it into a significant international logistics solutions business." An enthusiastic Paul Stuiver said: "I am excited at rejoining PPC, after gaining international experience in the service industry, managing cross- culturally, completing mergers and acquisitions and perhaps most notably the importance of proper people and talent management." Thanking Mr. Gomersall, Sibiya said: "John has played a pivotal role together with his team in laying many solid foundations for the success of PPC during his 17 years of leadership. Such a long and distinguished career at board level is not common today. I would like to thank John, on behalf of the Board and all his colleagues for his valuable contribution to PPC." Internal transformation in PPC is fully integrated with succession planning and critical to the empowerment and advancement of people. In the past twelve months John, together with the board, has been instrumental in the following transformation developments: - finalization of the 15% BBBEE transaction which remains above water due to thoroughness and timing; - the appointment of a black chairman and two further black non executive directors resulting in the board now being 54% black and including two black female directors; - the promotion and appointment of five black executive managers one of whom is female and - the achievement of a level 4 BBBEE contributor rating, the highest in the cement industry. Sibiya added: "During Paul`s tenure as CEO of Barloworld Logistics, he concluded a successful 25% empowerment equity transaction and was succeeded by a black CEO at the end of 2008. His track record in this regard should ensure his success in developing a black successor which has been agreed as a key deliverable of his new contract. My PPC colleagues and I wish Paul every success in his new role as Chief Executive Officer." Sandton 26 May 2009 Notes to editors: Paul Stuiver began his career in 1981 as a metallurgical engineer in the steel industry and joined PPC in 1983 as a plant superintendent at Lime Acres. From then until 2001 Paul occupied a number of senior positions in PPC including 7 years as a board member. This experience means that Paul has an intimate understanding of PPC`s history, culture, people and processes and despite leaving in 2001 still has knowledge of most of the key issues facing PPC. During his term as CEO of Barloworld Logistics from 2001 to 2008, he successfully concluded two mergers, ten acquisitions and grew the company from a South African transport business with 350 employees and annual turnover of R 120 million, to an international logistics business with 2 500 employees, operating in more than 20 countries in Africa, Asia, Europe and North America and annual turnover exceeding R5 billion. For further information contact: PPC Chairman: Bheki Sibiya 083-399-5133 SPONSOR: Merrill Lynch South Africa (Pty) Limited Date: 26/05/2009 14:30:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

Share This Story