Sipho Nkosi to bring mining prowess to Sasol’ top job
Sasol board member and chair Mandla Gantsho is retiring after 16 years with the group
Coal veteran and former Exxaro CEO Sipho Nkosi will take the place of long-serving Sasol board member and chair Mandla Gantsho, who is retiring after 16 years with the group.
The retirement of long-serving Sasol board member and chair, Mandla Gantsho, makes way for Sipho Nkosi, former CEO of Exxaro Resources and a veteran in all things coal.
The JSE-listed synfuels and chemicals company announced that Gantsho would retire with effect on 22 November 22 after serving on its board of directors for 16 years, with more than five of these in the position of chair.
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Gantsho, who has extensive experience in banking and formerly served as a director for the South African Reserve Bank, retains his position as chair on the board of both Impala Platinum and Kumba Iron Ore.’s.
Nkosi has a different but similarly impressive pedigree with more than 36 years' experience in the South African resources industry and especially coal. His most recent role was CEO of considering his last role was the CEO of Exxaro Resources from 2006 to 2016. Nkosi has extensive experience in the operational, financial, logistics and marketing areas of the resources sector.
Thursday's announcement comes ahead of the official opening of Sasol’s Impumelelo colliery on Friday. The project forms part of the company’s R14bn mine replacement programme, which aims to secure critical feedstock for the company’s synthetic fuels plant until 2050.
Sasol Mining is SA’s third-largest coal producer and runs one of the world’s largest underground coal-mining complexes. It produces over 40-million tons of coal annually of which more than 90% is used as critical feedstock for the production of synfuels and a range of chemicals.
Nkosi will join the Sasol board 1 May May 1 as independent nonexecutive director and will succeed Gantsho as chair upon the conclusion of the AGM Annual General Meeting in November.
In a statement, the board said Gantsho had led the company through global and local economic cycles and the execution of large capital projects. Sasol said he had also enabled the board to adopt decisive positions to ensure the Sasol remains resilient and well positioned for growth in the near- to long-term future.