PPC chairman to step down, South Africa

PPC announced that Bheki Lindinkosi Sibiya, who has served as chairman of Board since November 2008, elected not to offer himself for re-election at the shareholders AGM on 25 January 2016.
Accordingly, he retires as non-executive director and chairman of the Board.

PPC noted that under Mr Sibiya's stewardship the company has achieved a number of key milestones, notably the successful conversion of the company´s mining rights and the initiation of its African expansion strategy which to date has borne the recently-commissioned plant in Rwanda and the projects underway in DRC, Zimbabwe and Ethiopia.

Mr Sibiya, who indicated in 2014 his intention to step down as both chairman and a member of the Board once stability had been established, commented: "I have enjoyed working with PPC over the past seven years, despite some unique challenges. I wish to thank my fellow Board members past and present for their support in steering the Company to a position where it is equally capable of tolerating and even capitalising on challenges domestically and leveraging growth opportunities on the continent."

On appointing a successor to Mr Sibiya, PPC said the process "is far progressed and the Board expects to make an announcement in this regard soon."