When Sasol announced in 2014 that it would build an $8.1bn (R118bn) ethane cracker and derivatives complex at its Lake Charles site in Louisiana, US, it seemed the South African energy and chemical darling was on its way to becoming a global force. But the past five years tell a different story.Since announcing the Lake Charles Chemicals Project its share price has fallen more than 50% as cost overruns, delays and most recently a second postponement by Sasol of its results have prompted some analysts and shareholders to call for new management.Zaid Paruk, a portfolio manager and analyst at Aeon Investment, said: "We believe current management are of a poor quality with a brash attitude. It appears investors are frustrated with the management team and would like to see not only one but both CEOs relieved of their duties, which we agree with."Sasol has two CEOs, Stephen Cornell and Bongani Nqwababa.Last month Allan Gray and Coronation fund managers began pushing for management cha...
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