PPC has extended CEO Matias Cardarelli's employment contract until 31 March 2030, securing his leadership through the completion of the group's 'Awaken the Giant' turnaround strategy.
Mr Cardarelli, who became CEO in December 2023, will oversee the next phase of the strategy, including completion and commissioning of the new RK3 integrated cement plant in the Western Cape. PPC expects the project to deliver a further step-change in performance from FY2028.
Other priorities include further operational improvements at its South African plants, increased investment in renewable energy and optimisation and growth in Zimbabwe, where PPC is considering a new integrated cement plant.
PPC said that since Mr Cardarelli's appointment, the group has improved earnings, margins, cash generation and returns on invested capital, while its market capitalisation has more than doubled.
