Bheki Sibiya appointed new PPC chairman

"This interim appointment has been approved by the office bearers of the Chamber of Mines and is with immediate effect and until 31 December 2014," it said in a statement.

 

The chamber's chief operating officer Roger Baxter would serve as acting chief executive until the end of December.
PPC CEO Ketso Gordhan resigned on Monday with immediate effect, Business Day reported. He was appointed CEO in January last year.

 

"Ketso regrettably resigned due to differences of opinion regarding board procedures for the approval of certain decisions," the newspaper quoted PPC saying.

 

Analysts told the publication the reported clash may be a recent development as Gordhan had purchased just under R10m of the company's shares last month.

 

The announcement resulted in PPC's share price falling 7.69 percent to close at R30 on the Johannesburg Stock Exchange on Monday.