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It is regrettable to note the resignation of the CEO of South African Cement maker PPC has caused rapid fall in the company’s shares.

Ketso Gordhan,  as an exemplary, will be remembered for his unselfish leadership by taking a pay cut of  R1m pay cut last year and his top 60 managers’ remuneration was frozen in order to hike the wages of the cement maker’s 1,200 lowest earners.

Mr Gordhan said the gesture had been "very well received" by employees. This set an example for other companies and, "most workers at that end of the spectrum got about a 15%, 16%, 17% increase" as a commitment to close the wage gap.

The BMF wishes him well in his future endeavours.

Issued by BMF