PPC: Castle named non-executive director

DARRYLL Castle had been appointed an independent non-executive director at PPC, effective from October 17, the company said. “Through his extensive career [Castle] has accumulated a broad range of experience and skills spanning the fields of corporate management, fund management, financial analysis, mining and engineering,” it added. Castle had extensive experience in the mining industry, having served as chief executive of Trafigura Mining Group and Anvil Mining Limited. “He has also occupied the position of chief operating officer at Metorex Group Limited.” He had worked in the Democratic Republic of Congo, Zambia, Angola and Tanzania, giving him first-hand operations and project experience in Africa. Bheki Sibiya, the executive chairman of PPC, said Castle’s extensive experience and knowledge of various African countries and emerging markets would add great value to PPC. On September 29, former PPC chief executive Ketso Gordhan said he resigned from the company because of a disagreement over decision making, but was willing to return to the position. “The board and I disagreed about their appropriate delegation of authority and the limits of my decision making on personnel matters,” he said. “Specifically, they opposed my desire to exit a senior executive from the business whom I believed was putting the strategy of the company at risk. The ensuing interference by the board led to my loss of confidence in their ability to manage the business in a manner that is consistent with shareholder interests.” PPC said it had nothing further to say about Gordhan’s resignation. Gordhan said he remained a material shareholder, and would return if shareholders agreed it was in the company’s best interests. – Sapa