Zimbabwean survives PPC boardroom coup

PPC Zimbabwe chairman Todd Moyo will remain on the PPC Ltd board following the cancellation of the annual general meeting which sought to dissolve the board.

The entire PPC board had been set for dissolution at the AGM next week after investors representing about 10 percent of stock called for a vote after chief executive Ketso Gordhan resigned in September following a dispute with his fellow directors.

But PPC Ltd and its investors agreed to replace some of the board members without holding a meeting to vote on whether to have a total clear-out.

Moyo is a 5 percent shareholder in PPC Zimbabwe, a stake he co-owns with Stanford Moyo.