Publications
Partners
Cape Town - Portland Pretoria Cement [JSE:PPC] announced in a JSE statement that joint managing director Richard Tomes resigned with immediate effect, this not even a month after Ketso Gordhan quit as CEO.
Tomes resigned with effect from October 23 2014 to pursue other opportunities, PPC said in a Sens statement on Thursday.
"We thank Richard for his contribution over the years and wish him well in his future endeavours," PPC executive chairperson Bheki Sibiya said.
Johann Claassen will continue in the position of managing director of PPC Cement South Africa.
Shares in PPC were down 1.93% to R27.91 ahead of the market closing.
Earlier this month Darryll Castle was appointed an independent non-executive director.
On September 29, Gordhan called it quits over a disagreement in decision making, but he soon afterwards stated he would return in a "heartbeat".
About his resignation, Gordhan said in statement that he and the board disagreed about the delegation of authority and the limits of his decision making on personnel matters.
He added that the board opposed his "desire to exit a senior executive from the business". He said he believed this executive was putting the strategy of the company at risk.
Gordhan is still a shareholder in the company.
READ: Gordhan: I will go back in a heartbeat
Tomes resigned with effect from October 23 2014 to pursue other opportunities, PPC said in a Sens statement on Thursday.
"We thank Richard for his contribution over the years and wish him well in his future endeavours," PPC executive chairperson Bheki Sibiya said.
Johann Claassen will continue in the position of managing director of PPC Cement South Africa.
Shares in PPC were down 1.93% to R27.91 ahead of the market closing.
Earlier this month Darryll Castle was appointed an independent non-executive director.
On September 29, Gordhan called it quits over a disagreement in decision making, but he soon afterwards stated he would return in a "heartbeat".
About his resignation, Gordhan said in statement that he and the board disagreed about the delegation of authority and the limits of his decision making on personnel matters.
He added that the board opposed his "desire to exit a senior executive from the business". He said he believed this executive was putting the strategy of the company at risk.
Gordhan is still a shareholder in the company.
READ: Gordhan: I will go back in a heartbeat
