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Cape Town - Sasol [JSE:SOL] chairperson Hixonia Nyasulu said on Monday that she will step down
as chairperson and director of the company at its November AGM.
The move comes after serving seven years on the Sasol board of directors, two as a non-executive director and five as the chairperson.
Dr Mandla Gantsho will replace Nyasulu as chairperson with effect from the close of the 2013 AGM on November 23, the company said in a notice to shareholders.
Gantsho had been a director of the company for 10 years and confirmed his independence, the board said.
Nyasulu said it had always been her intention to serve as chairperson for a period of five years. "I am pleased the board's considered approach to succession planning has made this possible," she said.
Gantsho, a qualified chartered accountant and currently chief executive of Nova Capital Africa, also serves as director on the boards of Impala Platinum [JSE:IMP] and the South African Reserve Bank, and as chairperson of Ithala Development Finance Corporation.
Meanwhile, Sasol CEO David Constable also announced the exit of senior group executive Lean Strauss, who will retire from Sasol at the end of this month having spent more than 30 years with the company.
He will be replaced by Ernst Oberholster, current managing director of Sasol New Business Development.
The petrochemicals company on Monday also announced a 25% increase in full-year earnings, boosted by higher synthetic fuel production and a weaker rand.
- Fin24
The move comes after serving seven years on the Sasol board of directors, two as a non-executive director and five as the chairperson.
Dr Mandla Gantsho will replace Nyasulu as chairperson with effect from the close of the 2013 AGM on November 23, the company said in a notice to shareholders.
Gantsho had been a director of the company for 10 years and confirmed his independence, the board said.
Nyasulu said it had always been her intention to serve as chairperson for a period of five years. "I am pleased the board's considered approach to succession planning has made this possible," she said.
Gantsho, a qualified chartered accountant and currently chief executive of Nova Capital Africa, also serves as director on the boards of Impala Platinum [JSE:IMP] and the South African Reserve Bank, and as chairperson of Ithala Development Finance Corporation.
Meanwhile, Sasol CEO David Constable also announced the exit of senior group executive Lean Strauss, who will retire from Sasol at the end of this month having spent more than 30 years with the company.
He will be replaced by Ernst Oberholster, current managing director of Sasol New Business Development.
The petrochemicals company on Monday also announced a 25% increase in full-year earnings, boosted by higher synthetic fuel production and a weaker rand.
Headline earnings per share for the year to end-June totalled R52.62, from R42.28 a year earlier.
Sasol also declared a final cash dividend of R13.30, bringing the total dividend to R19.- Fin24
