Matias Cardarelli
JSE-listed PPC has appointed Matias Cardarelli as CEO, following an extensive search for a suitable successor for Roland van Wijnen, whose contract expired on August 31 and was extended to December 31 to facilitate an appropriate handover and transition.
Cardarelli has signed a four-year contract, which is subject to him obtaining the necessary work permit. He is expected to start in his new role during the last quarter of this year.
Cardarelli has a long record in the cement industry, across multiple emerging markets. He spent the last five years in South Africa as CEO and chairperson of Natal Portland Cement (NPC) part of Intercement group, PPC points out.
During his tenure at NPC, he is said to have successfully transformed the organisation by improving efficiencies, boosting margins and earnings before interest, taxes, depreciation and amortisation and increasing cash generation.
With this deep understanding of the local industry and his proven leadership skillset, Cardarelli is expected to play a pivotal role in continuing to drive PPC’s growth, improve profitability and enhance returns.
Prior to 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 Covid-19 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.
“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. 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 says.
The PPC board welcomes Cardarelli and says it looks forward to his leadership and contribution to the company’s path to sustainable profitability.
It also thanks Van Wijnen, averring that under his leadership, PPC has undergone a strategic repositioning through successfully implementing a restructuring of its debt, realigning its governance and reporting procedures and refocusing its growth objectives in Southern Africa, while navigating the challenges posed by Covid-19.