Sipho Nkosi has stepped down as Sasol chairperson and nonexecutive director
Sipho Nkosi has stepped down as chairperson and nonexecutive director of energy and chemicals company Sasol, effective November 10.
His decision to resign emanated from the conclusion that, while he was comfortable that he would be able to comply with the conflict-of-interest requirements of the Companies Act and of the company, he was concerned that some of his business interests may be perceived to place him in conflict with the interests of Sasol.
The board has appointed nonexecutive and lead independent director Stephen Westwell as interim chairperson, with effect from November 11.
The nomination and governance committee will nominate a permanent successor in line with its formal succession plan in due course.
“The board commends Nkosi for the leadership he has provided to the board leading to the determination of the Future Sasol strategy and its implementation.
"The board of directors thank Nkosi for his dedication during his tenure . . . and wish him well for the future,” Westwell said on November 13.