| Tue 26 May 2009, 14:30 | | PPC - Pretoria Portland Cement Company Limited - Appointment Of A New Chief |
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PPC
PPC
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 Produced by the JSE SENS Department.
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