RESIGNATION OF MR SIPHO NKOSI AS CHAIRMAN AND NON-EXECUTIVE DIRECTOR OF SASOL LIMITED

Rhea-AI Summary

Sasol Limited: Sipho Nkosi Resigns as Chairman and Non-Executive Director, Stephen Westwell Appointed as Pro Tem Chairman

Positive

• Mr. Sipho Nkosi has resigned as Chairman and non-executive director of Sasol Limited due to concerns about potential conflicts of interest, leading to the appointment of Mr. Stephen Westwell as pro tem Chairman. The Board will nominate a successor in line with its formal succession plan.

Negative

• None.

JOHANNESBURG, Nov. 13, 2023 /PRNewswire/ -- Shareholders are advised in terms of paragraph 3.59 of the JSE Listings Requirements that Mr Sipho Nkosi has stepped down as Chairman and non-executive director of Sasol Limited on 10 November 2023. Mr Nkosi came to the conclusion that, while he was comfortable that he would be able to comply with the conflict of interest requirements of the Companies Act, 2008 (Act No. 71 of 2008) and of the Company, he was concerned that some of his business interests may be perceived to place him in conflict with the interests of Sasol.      

The Board has appointed Mr Stephen Westwell, currently non-executive and lead independent director, as pro tem Chairman of the Board of Sasol Limited, with effect from 11 November 2023.  The Nomination and Governance Committee will in due course nominate a successor for the role of chairman in line with its formal succession plan.

Mr Westwell said: "The Board commends Mr Nkosi for the leadership he has provided to the Board leading to the determination of the Future Sasol strategy and its implementation. The Board of directors thank Mr Nkosi for his dedication during his tenure as Chairman of the Board and wish him well for the future." 

For further information, please contact:

Sasol Investor Relations,
Tiffany Sydow, VP Investor Relations Officer
Telephone: +27 (0) 71 673 1929
investor.relations@sasol.com  

 

View original content:https://www.prnewswire.com/news-releases/resignation-of-mr-sipho-nkosi-as-chairman-and-non-executive-director-of-sasol-limited-301985689.html

SOURCE Sasol Limited

FAQ

Why did Sipho Nkosi step down as Chairman of Sasol Limited?

Mr. Sipho Nkosi stepped down as Chairman due to concerns about potential conflicts of interest.

Who has been appointed as the pro tem Chairman of Sasol Limited?

Mr. Stephen Westwell has been appointed as pro tem Chairman of Sasol Limited.

What will happen next in terms of leadership at Sasol Limited?

The Nomination and Governance Committee will nominate a successor for the role of chairman in line with its formal succession plan.