Nqwababa and Cornell appointed as joint-CEs of Sasol
Bongani Nqwababa (pictured) and Stephen Russell Cornell have been appointed as joint-president and chief executive officers at Sasol. Nqwababa, a previous CFO South Africa Award winner, is currently CFO of Sasol. Cornell is the executive VP of international operations.
- Meet Bongani Nqwababa, winner CFO South Africa Finance Transformation Award 2015.
- Nqwababa talks about the role of the CFO.
The move comes after a previous announcement that David Constable, Sasol's current CEO, said he had opted not to extend his contract with Sasol beyond end June 2016.
Paul Victor, currently Sasol's senior VP of financial control services, will take over as CFO effective 1 July next year. Victor served as acting CFO from 10 September 2013 to 28 February 2015.
Speaking about the appointments, Mandla Gantsho, Sasol chairperson, said:
"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".
Nqwababa and Cornell's new responsibilities will begin on 1 July next year, the start of Sasol's financial year.