PPC receives 17 nominations for non-executive director positions

PPC receives 17 nominations for non-executive director positions
Published: 15 December 2014


PPC has received a total of 17 nominations for non-executive director positions on the reconstituted and expanded board by the 8 December 2014 closing date for nominations, Kevin Odendaal, PPC's international business development executive, confirmed with local press on Friday.

"The company does not want to pre-empt the circular that will be sent to shareholders most probably this week. The names that will be put forward by the nominations committee will be contained in the notice of the AGM (annual general meeting)," he said.

Mr Odendaal said the list nominees would be reduced to a short list of 12, from which shareholders would elect six candidates at the AGM to be held on 26 January 2015.

The remaining six directors would not be voted on at the upcoming AGM, he added.

"They will automatically be on the new board to ensure continuity but up for re-election as per the normal process and timelines in future," he said.

The reconstituted PPC board will comprise 12 non-executive directors, with four current board members stepping down and being replaced by six new director

The nominations were made as part of an agreement reached with PPC on the reconstitution and expansion of PPC's board and the withdrawal of their request for a special meeting to vote on a proposal to remove the current board.

PPC on Friday announced that former AngloGold Ashanti chief executive Bobby Godsell had withdrawn his consent to be nominated as a non-executive director of PPC's board. Tumi Dlamini, the executive director of Master Builders South Africa, withdrew her consent to be nominated on 5 December .
Only Claudia Manning, Gesina Coetzer, Peter Nelson and Keshan Pillay remain of the six nominations made by Foord Asset Management, Visio Capital Management and Nedbank Private Wealth.