Change in directors' executive responsibilities and optimised top management structure announced
Sasol Limited
(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 US8038663006
Sasol BEE Ordinary Share code: JSE : SOLBE1
Sasol BEE Ordinary ISIN code: ZAE000151817
(“Sasol” or “the Company”)
CHANGE IN DIRECTORS’ EXECUTIVE RESPONSIBILITIES AND OPTIMISED
TOP MANAGAMENT STRUCTURE ANNOUNCED
In accordance with paragraph 3.59(c) of the JSE Listings
Requirements, Sasol today announced a change in the executive
responsibilities of executive director, Ms V N Fakude, who
currently has accountability for the Sustainability and Human
Resources portfolio, and the soon to be appointed executive
director, Mr B Nqwababa, who will be joining Sasol as its new
Chief Financial Officer on 1 March 2015. The portfolio changes
will be effective from 1 March 2015 and are pursuant to Sasol’s
announcement to further optimise its top management structure.
With the retirement of Mr E Oberholster, as Executive Vice
President: Strategy, Development and Planning, and as part of
the Company’s ongoing drive to enhance its structures and
business processes, Sasol has decided not to appoint a new
Group Executive Committee (GEC) member to assume
responsibility for Mr Oberholster’s portfolio. Instead, these
accountabilities will be reallocated to current members of the
GEC.
Given the reallocation:
• Ms Fakude will be directly accountable for the Strategy and
Sustainability portfolio comprising the following Group
functions: Strategy; Risk & Safety, Health and Environment;
and Human Resources. Ms Fakude will relinquish the South
Africa Shared Services and Public & Regulatory Affairs
functions, which will be assumed by other members of the
GEC.
• Mr Nqwababa will be directly accountable for the Finance
portfolio, comprising the following Group functions:
Financial Control; Corporate Finance, Business Development
and Portfolio Management; Investor Relations and Information
Management.
On 28 January 2015, Sasol confirmed that it is formulating a
comprehensive plan to respond to the current low oil price
environment. The further optimisation of its top management
structure is an important step in the Company’s response plan
efforts, ensuring that the organisation is much more focused
and cost-conscious.
9 February 2015
Johannesburg
Sponsor: Deutsche Securities (SA) Proprietary Limited
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