PARASTATAL UPHEAVAL
Central Energy Fund appoints new interim board at PetroSA
Six board members resigned from the ailing parastatal in June
The Central Energy Fund has removed the remaining two board members of PetroSA and appointed an interim board. Six board members resigned from the ailing parastatal in June after the fund’s chairman, Luvo Makasi, instructed its members to resign with immediate effect, or submit oral representations at the annual general meeting as to why they should stay. The Central Energy Fund is PetroSA’s holding company. In May, Business Day was informed that two members had tendered their resignations. The two remaining board members, Owen Tobias and William Steenkamp, were not included on the interim board. PetroSA said on Wednesday the decision to replace the board was the culmination of engagements with all parties concerned. It also took cognisance of the financial stability and strategic direction of the entity. The fund’s new board, which was appointed with effect from July 5, are Nhlanhla Gumede as chairman, Leanne Williams, Quentin Mathew, Noto Eister, Puleng Kwele, Boy Manqoba Ngubo, N...
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