JOHANNESBURG - Shares in PPC declined 1.36% on the JSE yesterday to close at R7.95 after the listed cement and lime producer appointed current interim chief executive Johan Claassen as chief executive and an executive director of the group with immediate effect.
Claassen was appointed interim chief executive in July last year, following the sudden resignation of then PPC group chief executive Darryl Castle. At the time, Claassen was managing director of PPC’s South Africa cement business.
PPC chairperson Peter Nelson said yesterday that Claassen had since his appointment as interim chief executive overseen a number of important milestones.
He said Claassen had also demonstrated that he had the right skills to lead effectively. PPC also confirmed Njombo Lekula as managing director of SA Cement and Mokate Ramafoko as managing director of Rest of Africa Cement.
- BUSINESS REPORT