*EXCLUSIVE* Both sides of the PPC boardroom brawl from the horses’ mouths

In short:

  • Ketso Gordhan resigned as PPC CEO in September after the Board rejected his request to fire Chief Financial Officer Tryphosa Ramano.

  • Gordon claims he had no confidence in her or the Board’s ability to implement a complex strategy to expand into the rest of Africa.

  • Gordhan later withdrew his resignation, but the Board declined to reinstate him.

  • Gordhan has, thus far, failed to convince shareholders that the Board should reinstate him.

  • Gordhan claims that the majority of workers have petitioned to rehire him.

  • According to the Board, Gordhan’s reasons for firing Ramano had nothing to do with her inability to implement strategy. Instead they claim the real reasons to be the following:

    • Ramano had a bigger office than Gordhan and wanted reserve parking.

    • Ramano refused to join a voluntary salary sacrifice scheme introduced by Gordhan to reduce the pay gap between the highest and lowest paid employees.

    • Ramano’s questioning of a verbal loan agreement struck by Gordhan.

    • Ramano’s apparent mistreatment of an employee hired by Gordhan.

Ketso Gordhan’s side of the story

“The reason I resigned was because I had no confidence in the Board and its ability to implement a complex strategy to expand into the rest of Africa,” says Gordhan.

“As CEO I have the authority to choose my executive team. Yet, I went to the Board with my decision, because that’s my style of management,” says Gordhan. “We need the right people for this company, but I was disallowed.”

Gordhan has been, unsuccessfully, lobbying shareholders to get his job back. He claims, however, that the majority of workers have signed a petition, which has been presented to the Board, for him to get his old job back. He also claims to have the backing of a large number of those in the executive team as well as many of PPC’s foreign partners.

“The Board has not behaved in a way that is in the best interest of the business,” says Gordhan.

Click on the Soundcloud imbed to hear it from the horse’s mouth.

PPC Executive Chairman Bheki Sibiya’s side of the story

“Ketso Gordhan is lying,” says PPC Executive Chairperson Bheki Sibiya. “Those lies can harm the interests of PPC and our shareholders.”

Gordhan’s claim that an unnamed financial institution is threatening to withdraw funding of more than R2-billion due to the Board’s failure to reinstate him is not true, says Sibiya.

“We are surprised that he wants his job back,” says Sibiya. “He was sane and sober when he quit; it was his own decision. “It was the second time that Gordhan resigned. The first time it was verbal and emotional. He’s a great person, was a good CEO, but he is poor in matters of governance. His inexperience became his downfall."

Sibiya explains that the Board was, initially, unsure if they should accept Gordhan’s request for reinstatement. “As the board was deciding Gordan sent a message to say he was going to take the board head on,” says Sibiya. “That then indicated that the apology he sent wasn’t genuine. The board then unanimously decided not to take him back as he acted immaturely."

Gordhan’s reasons for wanting to fire Ramano were, according to Sibiya, improper and he failed to follow the appropriate procedures.

“He wanted to fire the senior executive because she had a bigger office than him; she requested reserved parking, which was declined. She refused to participate in a voluntary salary sacrifice scheme, which Gordhan had initiated to bridge the wage gap between the highest and lowest paid worker,” said Sibiya.

“His reasons for wanting to fire her had nothing to do with our strategy!”

Click on the Soundcloud imbed to hear it from the horse’s mouth.


This article first appeared on 702 : *EXCLUSIVE* Both sides of the PPC boardroom brawl from the horses’ mouths


Recommended

by NEWSROOM AI

CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
[LISTEN] 'Our fight with Sars concerns R 217 million' - Christo Wiese

[LISTEN] 'Our fight with Sars concerns R 217 million' - Christo Wiese

The South African billionaire has responded to reports placing him at the centre of an alleged tax evasion scheme.

'Ramaphosa is presenting an image of him as Madiba’s anointed successor'

'Ramaphosa is presenting an image of him as Madiba’s anointed successor'

President Ramaphosa is invoking his inner Mandela for political ends, says Political Economy Analyst Daniel Silke.

So long, Beira! And thanks for all the seafood!

So long, Beira! And thanks for all the seafood!

Bruce Whitfield interviews Lee Kasumba who is wrapping up her fact-finding mission in Mozambique’s central port city of Beira.

How to win elections and influence people

How to win elections and influence people

You could say elections are being disrupted.

Pay back what you dodged in taxes, Christo Wiese! – Sars

Pay back what you dodged in taxes, Christo Wiese! – Sars

He's been implicated in an elaborate tax-dodging scheme, says amaBhungane’s Craig McKune.

Avocados are better than sex

Avocados are better than sex

Fuelled by skyrocketing demand at home and abroad, the SA avo industry is thriving, says the SA Avocado Growers Association.

Popular articles
Parents no longer have to travel with children's birth certificates

Parents no longer have to travel with children's birth certificates

The new Home Affairs upgrades to the system include printing parents details at the back of the child's passport.

Tell me what you want: Study reveals most common sexual fantasies

Tell me what you want: Study reveals most common sexual fantasies

What are your sexual fantasies? Disclosure can bring sexual freedom, but it can also have downsides. A study lists the top trends.

More arrests are imminent in connection with the cash-in-transit heists - Hawks

More arrests are imminent in connection with the cash-in-transit heists - Hawks

Seven suspects were arrested in Limpopo in less than 24 hours after a cash-in-transit vehicle was blown up in the province.

Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Bruce Whitfield interviews La Grange about her and Madiba's attitude to money (hopes and fears, successes and failures, etc.)

The story of amaBhungane (and how it’s digging up dung on the Guptas & friends)

The story of amaBhungane (and how it’s digging up dung on the Guptas & friends)

The Money Show’s Bruce Whitfield interviews amaBhungane Centre for Investigative Journalism Investigative Journalist Craig McKune.

Meet Elmar Conradie, CEO of low-cost FlySafair (world’s most on-time airline)

Meet Elmar Conradie, CEO of low-cost FlySafair (world’s most on-time airline)

The Money Show’s Bruce Whitfield interviews Conradie for his “ShapeShifter” feature.

Criminals targeting homes with aluminium windows, warns neighborhood watch

Criminals targeting homes with aluminium windows, warns neighborhood watch

The Panorama, Welgelegen and Plattekloof Neighbourhood Watch has identified a new house break-in trend.