Sasol Limited: Appointment of Executive Director and Chief Financial Officer

JOHANNESBURG, September 29, 2014 /PRNewswire/ --

Today, Sasol appointed Bongani Nqwababa as Executive Director and Chief Financial Officer (CFO) of Sasol with effect from 1 March 2015.

Nqwababa has been an independent non-executive director and a member of Sasol's Audit Committee since 5 December 2013.

He 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.

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.

Paul Victor will continue as acting CFO of Sasol until Nqwababa assumes his new position, to ensure a seamless transition.

"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 Mr Constable.

The Sasol Board has appointed 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.

About Sasol:

Committed to excellence in all we do, Sasol is an international integrated energy and chemical company that leverages the talent and expertise of our more than 33 000 people working in 37 countries. We develop and commercialise technologies, and build and operate world-scale facilities to produce a range of product streams, including liquid fuels, high-value chemicals and low-carbon electricity.

While remaining committed to our home-base of South Africa, Sasol is expanding internationally based on a unique value proposition

Issued by:

Alex Anderson, Head | Group Media Relations
Direct telephone +27-(11)-441-3295; Mobile +27-(0)-71-600-9605;
[email protected]

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