Gordhan to take over at PPC

PPC, the biggest producer of cement products in South Africa, has appointed Ketso Gordhan as CEO from January 1.

He will take over from Paul Stuiver, who has completed his contract.

The change of guard is being made as the group, previously Pretoria Portland Cement Company, was renamed PPC from this week. The change reflects its recent change to 26% black ownership and the conversion of new-order mining rights.

The group appointed a new chief financial officer last year and continued its African expansion with the acquisition, with the IDC, of a 47% stake in Habesha Cement, in Ethiopia.

Gordhan will join the group's board as CEO designate from November 1. His most recent role has been in the Presidency, where, from 2009, he developed performance metrics and targets for government ministries.

Gordhan was head of private equity at First Rand for almost a decade. He was Johannesburg city manager in 1999 and 2000 .

As ANC campaign manager and policy co-ordinator between 1990 and 1994, he was instrumental in Nelson Mandela becoming South Africa's first democratic president.

He was director-general in the Ministry of Transport between 1994 and 1999, and was involved in privatising Airports Company SA and setting up the first fully privately funded toll road to Maputo. The South African National Roads Agency was created during this period.

"Ketso brings a wealth and blend of experience in business and in government as well as knowledge of various industries to the helm of Southern Africa's oldest and largest cement company," PPC chairman Bheki Sibiya said.

The building and construction industry had been in a prolonged slump because of the global recession. Regional cement demand has fallen severely, and only now were things starting to look up, said Sibiya.

The group said Stuiver was instrumental in providing strong leadership during a period of "unprecedented competition" in the local cement industry.

He oversaw the conclusion of the group's second phase of broadly based BEE, resulting in 26% black ownership of PPC.