PPC appointed Peter Nelson as chairman on Monday, effective immediately, following the retirement of Bheki Sibiya.
He had been made an independent nonexecutive director on the cement producer’s board in January 2015, leading it in an interim capacity during the company’s recent capital raising.
“Given his outstanding performance, the board believes that Mr Nelson is well suited to lead the board and the company on a permanent basis,” PPC said.
The group had earlier finalised raising R4bn through a fully underwritten renounceable offer of 1-billion new ordinary shares to PPC ordinary shareholders, at a subscription price of R4 per rights-offer share.
Nelson’s experience covers manufacturing, mining, telecommunications, healthcare, leisure, property, packaging and the motor industry in SA, Britain, Zimbabwe and Nigeria.
He has served as chief financial officer on several boards, including Telkom, Netcare and Mondi.
source: Business Day