PPC Ltd, a prominent player in the South African cement industry, has announced a significant leadership change with the appointment of Mr. Matias Cardarelli as its new Chief Executive Officer (CEO). This strategic move follows an extensive search for a successor to Mr. Roland van Wijnen, whose tenure at PPC concluded on August 31, 2023, but was extended to December 31, 2023, to ensure a smooth transition.
A Cement Industry Veteran
Mr. Matias Cardarelli brings a wealth of experience to his new role. Having spent the last five years as the CEO and Chairman of Natal Portland Cement (NPC), a part of the Intercement group, he has shown a remarkable track record in the cement industry. During his tenure at NPC, Mr. Cardarelli demonstrated his expertise by significantly improving operational efficiency, boosting margins and EBITDA, and enhancing cash generation. His deep understanding of the local South African industry, coupled with his proven leadership skills, positions him as a key driver of PPC’s growth, profitability, and returns.
Before relocating to South Africa in 2019 to lead NPC, Mr. Cardarelli played pivotal roles in the operational and financial turnaround of Amreyah Cement in Egypt and the expansion of Yguazu Cementos in Paraguay. Moreover, amidst the challenges brought about by the COVID-19 pandemic and the emergence of a new competitor in the Mozambican cement market, Mr. Cardarelli’s portfolio expanded to include Cimentos de Mozambique, where he successfully steered the company back to profitability.
Mr. Cardarelli’s Perspective
Upon his appointment, Mr. Cardarelli expressed his excitement and gratitude for the trust placed in him by the Board of PPC. He also conveyed his eagerness to collaborate with the PPC team and contribute positively to both the company and South Africa. “In the five years we have lived here, my family and I have come to deeply love South Africa and her people,” he stated, emphasizing his commitment to the country and its growth.
Future Plans and Transition
The Board of PPC warmly welcomes Mr. Cardarelli and looks forward to his leadership, confident that he will play a pivotal role in guiding the company towards sustainable profitability. Mr. Cardarelli has signed a four-year contract, subject to obtaining the necessary work permit, and is expected to assume his role as CEO during the final quarter of 2023.
This leadership transition also marks an opportunity to express appreciation for the outgoing CEO, Mr. Roland van Wijnen. Under his guidance, PPC underwent a strategic repositioning, which included the successful restructuring of its debt, realignment of governance and reporting procedures, and a renewed focus on growth objectives within Southern Africa. All of these achievements occurred amidst the challenges posed by the COVID-19 pandemic.
In Closing
The appointment of Mr. Matias Cardarelli as PPC’s new CEO is a significant development in the company’s journey. With his extensive industry experience and a track record of success, Mr. Cardarelli is poised to lead PPC into a new era of growth and profitability. As South Africa’s cement industry continues to evolve, his leadership will undoubtedly shape the future of PPC Ltd.
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