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He replaces Roland van Wijnen at the helm of the continent’s largest cement producer

September 4 2023

PPC has appointed Matias Cardarelli as its new CEO for the next four years with effect from the end of 2023.

He replaces Roland van Wijnen whose contract ended art the end of August. Van Wijnen began his CEO tenure in 2019 and has agreed to stay on until the end of 2023 to ensure a smooth handover process.

PPC is Africa’s largest cement producer.

Cardarelli has held various positions at numerous private cement companies including heading and chairing Natal Portland Cement (NPC), which is part of the Intercement group. He led the operational and financial turnaround of Amreyah Cement in Egypt and scaling-up of Yguazu Cementos in Paraguay, PPC said in a statement via the JSE’s stock exchange news service.

“I am excited to be joining PPC at this important time in its journey and highly value the trust placed in me by the board. I equally look forward to working together with the PPC team as we write this iconic company’s next chapter,” said Cardarelli.

PPC has been paying off billions of Rand of debt in recent years. It wants to pay a dividend again, something it last did in November 2015.

An ambitious and patchy expansion into Africa saw its debt pile sit at R5.2bn by the end of September 2020.

The board headed by chairman Jabu Moleketi.

“Cardarelli has a remarkable track record in the cement industry, across multiple emerging markets. With this deep understanding of the local industry and his proven leadership skillset, Cardarelli will play a pivotal role in continuing to drive PPC’s growth, improve profitability and enhance returns,” said Moleketi.

PPC share price rose 0.38% to R2.63 on Monday, up 20.18% year-to-date.

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