Ketso Gordhan’s fight with CFO was petty: PPC chair

by Trust Matsilele 0

Former PPC chief executive Ketso Gordhan’s fight with chief financial officer Tryphosa Ramano was petty, the group’s chair has said.

Bheki Sibiya, executive chairman of [DATA PPC:PPC Ltd] told CNBC Africa that the board requested for reasons from Gordhan on why he wanted the CFO fired but found his reasons unconvincing.

“We wanted the reasons why he wanted to get rid of her and the reasons he gave were petty as he said she (Tryphosa Ramano) had a bigger office than his, her office has door while his did not have,” said Sibiya.

“What the CEO wanted to do was not procedural and was unfair and unlawful and we told him that the board cannot support a process that is unlawful.”

Sibiya rubbished suggestions of having the board dissolved by shareholders saying he and other members served at the satisfaction of the shareholders.

“If the majority of the shareholders feel we need to move on certainly we will move on,” he said.

(READ MORE: S.Africa’s PPC shareholders to consider board overhaul)

“The board gets renewed on an annual basis as one third of the board members retire while some get out through an electoral process.”

Sibiya also said Gordhan had made commendable decisions prior to his expulsion.

“He made a salary sacrifice that was commendable and after that he approached the top leaders and asked to volunteer salary sacrifice and some did while others didn’t,” added Sibiya.

“The CFO is not the only one who didn’t volunteer salary sacrifice as there are others who also did not volunteer,” he said.

Sibiya said no-one cannot compel something that is voluntary, a statement suggesting Gordhan attempted to compel CFO to volunteer salary cut.

“When the CFO joined PPC her salary expectations were high and she got a lesser amount and having that reduced would have to change family’s life style.”

Sibiya said the CFO offered to give input on how to uplift people at the bottom of the company’s salary scale without sacrificing people at the top.

PPC’s executive chair is upbeat about the group’s direction going forward.

(READ MORE: PPC upbeat over African expansion)

“The company is continuing on a solid fashion with the strategy of keeping the domestic fire burning and defending our company from competition through our Africa growth strategy.”