JSE-listed construction materials company PPC has extended the contract of its CEO Matias Cardarelli to March 31, 2030.
Cardarelli has served as CEO since December 2023 and, in the past two and half years, the company has achieved significant progress in its strategy, PPC says.
Since his appointment, PPC has been fundamentally repositioned. The group has delivered consecutive step changes in earnings, margins, cash generation and returns on invested capital.
Additionally, the company’s market capitalisation has more than doubled. This has been achieved without any improvement in the South African operating environment and is the outcome of strategic clarity, operational performance improvement and cost and capital discipline.
With the turnaround only half complete, the value delivered to date has come largely from a significant change in the way the business is run, a culture reset, and cost and commercial discipline.
