Former PPC CEO Ketso Gordhan has slammed the cement producer and an unnamed senior executive, claiming in a media statement issued on Monday, that the individual had undermined a lucrative funding deal that he believed would have bolstered the group’s balance sheet and had created a "dysfunctional" work environment.

His comments came after PPC announced earlier this month that it was taking legal action against the former CEO for being a "delinquent director" after he made comments the board considered defamatory.

He resigned from PPC in September over the board's refusal to back his decision to fire a senior executive. He later rescinded the resignation but the board declined to reinstate him.

Gordhan on Monday also took aim at the company’s recent decision to release a series of paid advertisements, which he claimed misrepresented and trivialised his reasons for resigning from the board.

“[PPC’s decision to place these advertisements] when there is an opportunity to address shareholders directly at the company’s annual results announcement on November 18 is disappointing both in form and content.

“I would have thought a board that is aware of its duty would see the shareholders’ meeting on December 8 as an opportunity to focus on convincing shareholders that, notwithstanding creating a leadership vacuum that wiped R3-billion off the company’s market capitalisation, that this is the best possible board to deliver on PPC’s Africa strategy, which is a necessity for creating shareholder value,” he asserted.

PPC earlier indicated that it would, at a December 8 general meeting, consider the proposed removal of the entire board, as well as the proposed election to the board of certain other persons.

This followed a requisition from shareholders Foord Asset Management, Visio Capital Management and Nedbank Private Wealth, which together held 10.36% of the company.

Gordhan maintained that, while the board depicted the concerns he had raised with them as “petty and egotistical”, these issues had been “raised in the best interest of the company”.

“My ambition is not to join the PPC boardroom playpen in trivialising the purpose of the shareholders meeting but to urge shareholders to focus on corporate leadership and value creation for all stakeholders,” he held.

Gordhan appealed to shareholders to scrutinise the current PPC leadership and identify whether the board was suited to fully understand the challenges faced by the company and the industry, oversee an industrial relations environment that promoted productivity and efficiency and manage PPC’s key commercial relationships.

Stakeholders should also determine whether the current board was best suited to driving PPC’s ambitious Africa expansion strategy, he stated.

“I urge shareholders to ask the difficult questions and to do what is best for their company by putting in place a board that has the experience, stewardship and support of management and employees to drive a complex strategy and unlock the significant value within PPC.

“[PPC needs] a board that is capable of converting its playpen back into a boardroom,” he remarked.