PPC fails to cement CEO post
Third boss to quit in four years as uphill climb gets steeper
PPC is searching for its fourth CEO in as many years after Johan Claassen, who has only been in the hot seat since July last year, said on Friday he would take early retirement. His exit has raised concern among analysts that yet another leadership change could stall the company's recovery. Mergence Investment Managers portfolio manager Peter Takaendesa said leadership changes "are a bit of a concern". "In a tough environment you need stability and accountability - someone who will give targets they can be held accountable to." At the same time, an argument could be made that PPC needed a leader with fresh ideas and "a lot of energy. They have invested a lot of capital and they need to get a return on it now," said Takaendesa. The company's share price has yet to recover from a sell-off sparked by the resignation of Ketso Gordhan after a dispute with the board four years ago. In September 2014, the month that Gordhan abruptly left the company but then launched a campaign to get his ...
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