Sasol appoints joint-CEO’s new CFO

Sasol appoints joint-CEO’s and new CFO

12:11 PM, 14th December 2015
Sasol appoints joint-CEO’s and new CFO

JOHANNESBURG, SOUTH AFRICA: Sasol Limited said that it has appointed Bongani Nqwababa and Stephen Russell Cornell as joint-presidents and CEOs (Joint-CEOs) of the company, with effect from 1 July 2016, the beginning of the company’s next financial year.

This follows the announcement on 8 June 2015 that David Constable, the president and CEO, had decided not to extend his contract with Sasol beyond 30 June 2016.

Nqwababa is currently chief financial officer of Sasol, and a member of its board of directors and the group executive committee. Cornell is currently the executive VP of international operations and a member of the group executive committee.

Sasol has also appointed Paul Victor as chief financial officer and executive director, with effect from 1 July 2016.Victor is currently senior VP, financial control services at Sasol and served as acting chief financial officer from 10 September 2013 to 28 February 2015.

“Sasol’s succession plan for the president and CEO, which enabled the consideration of internal and external candidates in South Africa and globally, has informed the board’s well-considered decision to appoint Steve and Bongani as joint-CEOs. Their complementary attributes are well-suited to drive Sasol’s growth programme while maintaining momentum for the sustainable repositioning of the Company to respond decisively to the challenging energy landscape,” said Dr Mandla Gantsho, chairman, Sasol Ltd’s board of directors.

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