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Business Reporter
PRETORIA Portland Cement (PPC) Zimbabwe’s board of directors are not affected by the proposed axing of 11 board of directors from PPC South Africa, the company said yesterday.Responding to last week’s report that the Todd Moyo-led local board was likely to face the chop from PPC South Africa when the company conducts its general meeting next month, PPC Zimbabwe said the coming meeting had no effect on the composition of its board.

“We note with concern the article you flighted on November 20, 2014 Business Chronicle titled ‘Axe hangs over PPC Zimbabwe Board’.

The article has serious factual mistakes,” said Faith Musinga, a senior official from the firm.

“First and foremost our PPC Zimbabwe board isn’t under any threat whatsoever of being fired. Your article indicates that our board doesn’t have the right expertise, is incompetent and isn’t functional. This is wrong and misleading. It puts our board in very bad light.”

Musinga said the list of board members that were indicated in PPC South Africa’s notice last week were not from the Zimbabwean board as indicated in the article last  Thursday.

However, Moyo, who sits on the PPC South African board and owns about five percent shares in the giant cement manufacturer, was noted in a list of directors targeted for ouster.

The PPC South Africa board is being accused of incompetence with the parent company proposing its replacement with a functional board.

“The business reporter read the PPC Limited notice about PPC in South Africa and without familiarising with the article presumed and/or thought it refers to PPC Zimbabwe. This is a grave error,” she said.

“The article should refer to PPC Limited in South Africa and not PPC Zimbabwe. Our PPC Zimbabwe directors have been put to disrepute by your article and the board at large. To set the record our board is competent, functional and has the relevant expertise.”