PPC announces new CEO and delays annual results presentation

South Africa’s PPC has appointed Roland van Wijnen as its new CEO after a search that began in November 2018 when Johan Claassen announced he would be retiring from the role.

"We are pleased to have secured Roland, a Dutch national, whose listed company experience and exposure to international global best practice will broaden the management practices of PPC. He has a detailed knowledge of the cement sector. He is up-to-speed with our strategic imperatives and will advance the process without any delays," said Jabu Moleketi, PPC chairman. 

Prior to his appointment, Mr Van Wijnen held various senior roles in LafargeHolcim including serving as CEO of its Philippine business. He has reportedly signed a four-year contract with the company and is expected to take over the position upon receipt of a work permit.

On the same day as this announcement, the company also delayed its annual results presentation shortly before it was scheduled to take place. The delay has been attributed to auditors who were still considering fair value judgments of Zimbabwean assets that could range between ZAR0 and ZAR50m (US$3.5m).