Sasol Limited: Change in Directors' Executive Responsibilities and Optimised Top Managament Structure Announced

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Feb 09, 2015, 09:24 ET

JOHANNESBURG, February 9, 2015 /PRNewswire/ --

Sasol Limited ("Sasol" or "the Company")

Sasol (JSE:SOL, NYSE:SSL) 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.

Contact
Cavan Hill
+2711-441-3113
[email protected]

SOURCE Sasol Limited