The former Exxaro CEO will be taking over from retiring Dr Mandla Gantsho as chairperson.
Sasol has announced the retirement of its chairperson Dr Mandla Gantsho. He will be stepping down after the company’s annual general meeting in November.
Former Exxaro Resources CEO Sipho Nkosi will be stepping in to succeed Dr Mandla at the conclusion of the annual general meeting as independent non-executive chairman designate with effect from 1 May
In a statement, Dr Mandla said:
“I am pleased to hand over the reins to a person of Sipho’s calibre and I am confident that he will provide the necessary direction and leadership in an exciting chapter of Sasol’s history. He will continue to be supported by a strong board comprised of a diversity of skills and experience.”
Board member JJ Njeke, who will also be stepping down as a director of Sasol at the annual general meeting, commented on Mandla’s resignation, saying that: “Dr Mandla has led Sasol through up-and-down global and local economic cycles as well as the execution of large capital projects that have faced challenges while clearly presenting strategic opportunities for the Company’s growth.”