Cement company PPC yesterday named a mining industry veteran as its chief executive, ending a three-month leadership vacuum that has hit its share price.
The company said Darryll Castle would take over from January 12.
Former CE Ketso Gordhan resigned in September after clashing with the board.
He then launched an acrimonious campaign to have the company's directors removed and win his job back.
PPC bowed to shareholder pressure this month and agreed to reshuffle its board but without reinstating Gordhan.
The bickering took a toll on investor confidence, coming at a time when PPC is expanding into the rest of Africa.
Castle previously worked as chief operating officer for miner Metorex, since acquired by China's Jinchuan.
A chartered financial analyst, he was CEO of Trafigura mining group and of Anvil Mining.
Castle's experience includes projects in Zambia, Angola and Tanzania.
Shares of PPC were down 1.8% in a weaker market following the announcement.
The shares have lost 25% of their value since Gordhan's resignation. - Reuters
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