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Waheed Sulaiman, the Wescoal group CEO who spearheaded the company’s transformation into a majority black-owned coal producer, has resigned. The company provided no reasons for his exit, announced on the JSE’s stock exchange news service on Monday afternoon, and head of investor relations Jacques de Bie said an agreement between Sulaiman and Wescoal is in place and bound by strict confidentiality. Sulaiman was appointed acting CEO of Wescoal in April 2015 after Andre Bojé, who had been at the helm for 18 years, resigned. Bojé’s exit followed a widely publicised fallout with board chair Robinson Ramaite over how the company could best achieve a black shareholding of more than 50%. At the time, coal producers were under the impression that a majority black shareholding was required in order to supply coal to Eskom. But in recent months this has been shown to be incorrect and was, in fact, never an official Eskom policy despite previous communications put out by the utility. Sulaiman h...

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