South Africa’s largest cement maker, PPC, announced today that Matias Cardarelli would take over as the company’s new CEO later this year.
“His appointment follows an extensive search for a suitable successor for Roland van Wijnen, whose contract expired on 31 August 2023 and was extended to 31 December 2023 to facilitate an appropriate handover and transition,” the company said.
PPC Chairman Jabu Moleketi said, “Cardarelli has a remarkable track record in the cement industry across multiple emerging markets, having importantly spent the last five years in South Africa as CEO and Chairman of Natal Portland Cement (NPC) part of Intercement group.”
“During his tenure at NPC, he successfully transformed the organisation by improving efficiencies, boosting margins and EBITDA, and increasing cash generation.”
“With this deep understanding of the local industry and his proven leadership skillset, Cardarelli will play a pivotal role in continuing to drive PPC’s growth, improve profitability and enhance returns.”
Before moving to South Africa in 2019 to join NPC, Cardarelli led the operational and financial turnaround of Amreyah Cement in Egypt and the scaling-up of Yguazu Cementos in Paraguay.
Following the onset of the Covid-19 pandemic and the emergence of a new entrant in the Mozambican cement market, Cardarelli’s portfolio was expanded to include Cimentos de Mozambique, where he successfully implemented an operational and commercial plan to return the company to profitability, Moleketi said.
“I am excited to be joining PPC at this important time in its journey and highly value the trust placed in me by the board,” Cardarelli said.
“I equally look forward to working together with the PPC team as we write this iconic company’s next chapter. In the five years we have lived here, my family and I have come to deeply love South Africa and her people. I look forward to contributing positively to both PPC and the country.”
Cardarelli has signed a four-year contract, which is subject to obtaining the necessary work permit and is expected to start during the last quarter of 2023.