Stephen Westwell steps in as Sasol chairman following Sipho Nkosi resignation

Sasol announced on 10 November that its chairman and non-executive director, Sipho Nkosi, has resigned from his position. Nkosi made the decision due to concerns that some of his business interests could potentially conflict with the interests of Sasol, despite his belief that he would be able to comply with the conflict of interest requirements of the Companies Act, 2008 (Act No. 71 of 2008) and of the company.

Following Nkosi’s departure, the board has appointed Stephen Westwell, the current non-executive and lead independent director, as the interim chairman, effective from 11 November 2023.

The Nomination and Governance Committee will subsequently nominate a successor for the role of chairman in accordance with its formal succession plan.

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"The board commends Mr Nkosi for the leadership he has provided to the board leading to the determination of the Future Sasol strategy and its implementation," said Westwell in a company statement.

"The Board of directors thank Mr Nkosi for his dedication during his tenure as chairman of the board and wish him well for the future."