SASOL LIMITED - Appointment of Executive Director and Chief Financial OfficerRelease Date: 29/09/2014 14:10:00 Code(s): SOL SOLBE1
(Incorporated in the Republic of South Africa)
(Registration number 1979/003231/06)
Sasol Ordinary Share codes: JSE: SOL NYSE: SSL
Sasol Ordinary ISIN codes: ZAE000006896 US803663006
Sasol BEE Ordinary Share code: JSE: SOLBE1
Sasol BEE Ordinary ISIN code: ZAE000151817
(?Sasol? or ?the Company?)
APPOINTMENT OF EXECUTIVE DIRECTOR AND CHIEF FINANCIAL OFFICER
Shareholders are advised in terms of paragraph 3.59 of the JSE
Listings Requirements that Mr Bongani Nqwababa has been
appointed as executive director and Chief Financial Officer
(CFO) of Sasol with effect from 1 March 2015, or such earlier
date as may be agreed between the Company and Mr Nqwababa.
Mr Nqwababa has been an independent non-executive director and a
member of Sasol?s Audit Committee since 5 December 2013.
Pursuant to his appointment as CFO designate, he has stepped
down from the Sasol Board and the Audit Committee with effect
from 26 September 2014.
Mr Nqwababa has been the Finance Director of Anglo American
Platinum Limited since 2009. He is a former Finance Director of
Eskom Holdings SOC Limited and Chief Financial Officer of Shell
Southern Africa. He is also the Chairman of the Audit Committee
of the South African Revenue Service.
Mr Nqwababa holds an Honours degree in Accounting from the
University of Zimbabwe and qualified as a chartered accountant
in Zimbabwe in 1991, after training with PricewaterhouseCoopers.
He also obtained a Masters degree in Business Administration
from the Universities of Manchester and Wales, Bangor in 1999.
?Bongani is certainly no stranger to Sasol. We are delighted
that he has agreed to make the shift from being one of our non-
executive Board members to fulfilling a key role on the
management team of the company. Bongani?s appointment concludes
what was an extensive search to find a CFO who has both the
breadth and depth of experience within the broader global
resources and energy sectors?, said Sasol?s President and Chief
Executive Officer, Mr David Constable.
Mr Paul Victor will continue as acting CFO of Sasol until the
date of Mr Nqwababa?s assumption of office, to ensure a seamless
?Paul hit the ground running as our Acting CFO a year ago. He
has been doing an outstanding job in leading the Finance
function during our extensive change programme and as our teams
close out on the all-important ground work to inform upcoming
capital project decisions. Going forward, Paul will continue to
fulfil a crucial executive role within the Finance function, and
will serve as Bongani?s right-hand within the department?, said
The Sasol Board has appointed Ms Nomgando Matyumza, an
independent non-executive director of Sasol, as a member of the
Audit Committee with effect from 26 September 2014, to fill the
vacancy resulting from Mr Nqwababa?s resignation. Ms Matyumza is
a chartered accountant and holds an LLB degree.
?We?re happy to welcome Gando onto Sasol?s Audit Committee. Her
extensive experience, especially in publicly listed companies,
will add great value to our Audit Committee and bolster
diversity in the gender, skill and expertise balance of our
Board?, said Sasol?s Chairman, Dr Mandla Gantsho.
29 September 2014
Deutsche Securities (SA) Proprietary Limited
Date: 29/09/2014 02:10:00 Supplied by www.sharenet.co.za
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