Watch our exclusive interview with Richard Tomes, Managing Director of PPC Cement, who speaks on the recent shock resignation news of their CEO, Ketso Gordhan.
Tomes gives a candid overview of what is currently happening and what is on the horizon for PPC Cement.
Yesterday, Business Day Live reported that Ketso Gordhan is planning a comeback as chief executive of PPC and if shareholders back him in pulling off this coup it will make corporate history.
Today, Engineering News reports on a personally issued statement from Ketso Gordhan: He indicated that the board had “inappropriately involved itself in operational and personnel matters” and impacted his ability to run the company and to execute the group’s strategy.
Interference by the board after Gordhan attempted to “exit” a senior executive who was allegedly “putting the strategy of the company at risk” had led to a “loss of confidence” in their ability to manage the business in a “manner that is consistent with shareholder interests”.
“The manner of the board’s intervention raised concern about whether I had appropriate support from the board to continue as CEO,” he stated, noting that, since his exit, only the board would be able to provide additional details on the matter.
He concluded by saying: “I remain passionate about PPC, about the strategy we have put in place and about the excitement, loyalty and commitment we have created. I remain a material shareholder and would go back as CEO in a heartbeat if the shareholders agree with me that this is in the best interest of the business.”
Edited by Adrienne Taylor
Filmed and produced by: Anna Sacco