Dually listed cement producer, Pretoria Portland Cement (PPC) Limited has appointed Anthony Ball as executive director, with specific responsibility of improving the current capital structure and leading related negotiations with local as well as international funders.
The Johannesburg Stock Exchange (JSE)-listed concern, operating in the country as PPC-Zimbabwe is also listed on the local bourse – Zimbabwe Stock Exchange (ZSE) – with cement plants in Bulawayo, Colleen Bawn and Harare.
“In accordance with paragraph 3.59 of the JSE Limited Listings Requirements, the board of directors of the Company (“the Board”) wishes to advise shareholders of following changes to the Board and Board Committees, which changes are effective immediately: Mr Anthony Ball (“Anthony”) has served on the Board as an Independent Non Executive Director (“NED”) since March 2018 and has now been appointed as Executive Director of the Company,” said the company in a statement published on the ZSE website.
Ball holds a BCom (Hons) (University of Cape Town), MPhil (Management Studies) (Oxford University) and CA (SA) and has extensive experience in business building, investing and corporate finance.
He will serve alongside Roland van Wijnen, the chief executive officer, however with his own specific mandate.
“This will afford Roland the necessary capacity to focus on implementing the strategic changes identified to improve the business and additionally ensure the adjustments caused by the impact of the current COVID-19 crisis are properly addressed,” said the company.
“Anthony will step down as an NED as well as the chair of the Remuneration Committee (“REMCO”) but will remain a member of the Investment Committee.
Noluvuyo Mkhondo has since been appointed as the chair of the REMCO and other committee members are Charles Naude and Todd Moyo.
Meanwhile, PPC recently announced that their audited financial results for the full year ended March 31, 2020, which were due on June 30, will be further delayed by two more months in the wake of COVID-19 disruptions.