SOL: Sasol Lmited: Appointment Of Executive Director Designate And Chief Financial Officer Designate
On July 1, 2021, Sasol Limited announced the resignation of Chief Financial Officer (CFO) Paul Victor, effective June 30, 2022. He will assist during a six-month transition period to facilitate the handover of responsibilities. Mr. Hanré Rossouw, currently CFO of Royal Bafokeng Platinum, will succeed Victor as CFO and executive director on July 1, 2022, after joining the company on April 4, 2022. Rossouw brings extensive experience in debt restructuring and corporate finance, enhancing Sasol’s leadership during upcoming business challenges.
- Hanré Rossouw's appointment as CFO is expected to bring fresh perspectives and strong financial management to Sasol.
- Rossouw has significant experience in restructuring and capital allocation, beneficial for Sasol's future operations.
- The transition may lead to temporary disruptions or challenges in continuity as leadership changes.
- Concerns may arise regarding the adjustment period for Rossouw, considering the importance of his role.
JOHANNESBURG, July 1, 2021 /PRNewswire/ -- Shareholders are advised in terms of paragraph 3.59 of the JSE Listings Requirements that Mr Paul Victor has informed the Company that he will step down as Chief Financial Officer (CFO) and executive director of Sasol Limited on 30 June 2022.
Shareholders are also advised of the appointment of Mr Hanré Rossouw, currently the CFO of Royal Bafokeng Platinum Limited (RBPlat), as CFO designate and executive director designate of Sasol to succeed Mr Paul Victor. Hanré will join Sasol on 4 April 2022 and will succeed Paul as executive director and CFO on 1 July 2022. Paul has agreed to remain with Sasol until the publication of Sasol's financial results and suite of annual reports for the year ending 30 June 2022, allowing for a sixth-month structured handover period.
Sipho Nkosi, Chairman of the Sasol board of directors (Board), said, "On behalf of the Board, I would like to thank Paul for his substantial contribution and exemplary leadership over the past twenty-one years at Sasol. We will pay tribute to him nearer to the date of his departure next year. The Board is pleased to have appointed Hanré as Sasol's next CFO and is looking forward to welcoming him as a member of the Board. His background and experience will benefit Sasol in meeting our business opportunities and challenges."
Hanré has been the CFO of RBPlat since 1 October 2018, where he was responsible for the restructuring of the balance sheet through the refinancing of debt and a rights issue, the introduction of a new capital allocation framework and a new dividend policy.
Previously, he was a portfolio manager at Investec Asset Management and, prior to that, the CFO of Xstrata Alloys. He also held a number of other senior roles at Xstrata plc in London that involved extensive strategy, mergers and acquisitions, business optimisation and capital markets experience. His career started as graduate engineer at Anglo American plc and he later also worked for Accenture plc and De Beers Group. Hanré graduated from Oxford University with a Master's degree in Business Administration. He also holds a Bachelor of Engineering degree in Chemical Engineering and a Bachelor of Commerce (Hons) degree in Economics.
Tiffany Sydow, Investor Relations Officer
Telephone: +27 (0) 71 673 1929
investor.relations@sasol.com
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SOURCE Sasol Limited
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