Cement producer PPC has made the shock announcement that Ketso Gordhan has resigned as chief executive with immediate effect.
Gordhan, who was known for his unique inclusive management style, resigned “due to differences of opinion with the board, regarding board procedures for the approval of certain decisions,” said PPC this afternoon.
He has been at PPC for about a year and a half and his contract only ends in 2017.
Chairperson Bheki Sibiya will become executive chairperson with immediate effect, until a chief executive is appointed.
Board director Tim Ross will become lead director of the board.
Sibiya said Gordhan had led PPC’s African expansion and should also be commended for his work on closing the salary gap in PPC as well as implementing an innovative employee housing support initiative. Gordhan took a R1 million pay cut and his executives also saw their salaries slashed.
The company gave no details on what had precipitated this shock move.
Gordhan was previously the director-general of transport and city manager for Joburg.
