Good corporate governance starts from the boardroom. To put it more bluntly, an organisation is as effective as its boardroom.
Evidently, it is driven by this thinking that shareholders of Portland Pretoria Cement (PPC) have added six new faces amongst its board members, following shenanigans which the organisation has been involved in.
Since mid last 2014 PPC has been in the news, not for the launch cementious products as it has done over the years, but a needless clash of egos in the boardroom.
Appointed during PPC’s annual general meeting in Sandton, Johannesburg, the new boardroom has an uphill task of restoring the organisation’s public credibility and adding value to investment.
Shareholders elected former Reserve Bank governor Tito Mboweni, former PPC finance director Peter Nelson, Nicky Goldin, Timothy Leaf-Wright, former Afrisam CEO. Charles Naude and Daniel Ufitikirezi.
Ufitikirezi is Chairperson of PPC’s Rwandan business. Transform SA Online learned that two other PPC directors retired by rotation. Shareholders also approved the appointment of Darryl Castle as CEO.
The new development shows that PPC is now committed to turning a new chapter.
