Mr Castle has accordingly decided to resign his PPC group directorships but will be available to the PPC Group to ensure a smooth handover for a period of six months. He will be pursuing other interests.
Mr Castle joined the Board at a difficult time and was instrumental in stabilising the Company and overseeing the commissioning of several new projects for which the Board is most grateful.
On behalf of the Board, the Chairman Mr Peter Nelson said that the Nominations Committee of the board will commence the process to appoint a permanent CEO immediately. With immediate effect and in the transitional period Mr Johan Claassen, the Managing Director of the South African cement business, has been appointed as interim CEO of PPC Limited and as an Executive Director to the PPC Ltd Board, until such time as a permanent CEO and Executive Director is appointed.
He holds a BEng (University of Stellenbosch) and EDP (Wits Business School) and has served as a member of the group executive team since January 2013. Mr Claassen has more than 28 years’ experience in all facets of the cement industry and has been with PPC for that period.