×

We've got news for you.

Register on SowetanLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

Former PPC CEO clarifies resignation

Former PPC CEO Ketso Gordhan. Picture credit: Russell Roberts
Former PPC CEO Ketso Gordhan. Picture credit: Russell Roberts

Former PPC CEO Ketso Gordhan said on Monday he resigned from the company because of a disagreement over decision making, but was willing to return to the position.

"The board and I disagreed about their appropriate delegation of authority and the limits of my decision making on personnel matters," the former PPC executive said in a statement.

"Specifically, they opposed my desire to exit a senior executive from the business whom I believed was putting the strategy of the company at risk."

He said as CEO he was authorised to make that decision.

"The ensuing interference by the board led to my loss of confidence in their ability to manage the business in a manner that is consistent with shareholder interests."

PPC said on Monday it had nothing further to say about Gordhan's resignation.

Gordhan said he remained a material shareholder, and would go back as CEO "in a heartbeat" if shareholders agreed it was in the company's best interests.

"While there is a very strong operational team in place, PPC still faces a number of strategic execution and internal alignment challenges that I believe I am well positioned to overcome as CEO," he said.

"I remain passionate about PPC, about the strategy we have put in place and about the excitement, loyalty and commitment we have created."

On Tuesday, the Chamber of Mines said its chief executive Bheki Sibiya was appointed interim executive chairman of PPC. The chamber's chief operating officer Roger Baxter would serve as acting chief executive until the end of December.

PPC issued a statement about Gordhan's resignation last Monday.

"Ketso regrettably resigned due to differences of opinion regarding board procedures for the approval of certain decisions," it said at the time.

Would you like to comment on this article?
Register (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.