Sasol Limited: Appointment of Executive Director and Chief Financial Officer

PR58067

JOHANNESBURG, Sep. 29, 2014 /PRN=KYODO JBN/ --

    Today, Sasol appointed Bongani Nqwababa as Executive Director and Chief

Financial Officer (CFO) of Sasol with effect from 1 March 2015.

    Nqwababa has been an independent non-executive director and a member of

Sasol's Audit Committee since 5 December 2013.

    He has been the Finance Director of Anglo American Platinum Limited since

2009. He is a former Finance Director of Eskom Holdings SOC Limited and Chief

Financial Officer of Shell Southern Africa. He is also the Chairman of the

Audit Committee of the South African Revenue Service.

    Nqwababa holds an Honours degree in Accounting from the University of

Zimbabwe and qualified as a chartered accountant in Zimbabwe in 1991, after

training with PricewaterhouseCoopers. He also obtained a Masters degree in

Business Administration from the Universities of Manchester and Wales, Bangor

in 1999.

    "Bongani is certainly no stranger to Sasol. We are delighted that he has

agreed to make the shift from being one of our non-executive Board members to

fulfilling a key role on the management team of the company. Bongani's

appointment concludes what was an extensive search to find a CFO who has both

the breadth and depth of experience within the broader global resources and

energy sectors," said Sasol's President and Chief Executive Officer, Mr David

Constable.

    Paul Victor will continue as acting CFO of Sasol until Nqwababa assumes his

new position, to ensure a seamless transition.

    "Paul hit the ground running as our Acting CFO a year ago. He has been

doing an outstanding job in leading the Finance function during our extensive

change programme and as our teams close out on the all-important ground work to

inform upcoming capital project decisions. Going forward, Paul will continue to

fulfil a crucial executive role within the Finance function, and will serve as

Bongani's right-hand within the department," said Mr Constable.

    The Sasol Board has appointed Nomgando Matyumza, an independent

non-executive director of Sasol, as a member of the Audit Committee with effect

from 26 September 2014, to fill the vacancy resulting from Mr Nqwababa's

resignation. Ms Matyumza is a chartered accountant and holds an LLB degree.

    "We're happy to welcome Gando onto Sasol's Audit Committee. Her extensive

experience, especially in publicly listed companies, will add great value to

our Audit Committee and bolster diversity in the gender, skill and expertise

balance of our Board," said Sasol's Chairman, Dr Mandla Gantsho.

    About Sasol:

    Committed to excellence in all we do, Sasol is an international integrated

energy and chemical company that leverages the talent and expertise of our more

than 33 000 people working in 37 countries. We develop and commercialise

technologies, and build and operate world-scale facilities to produce a range

of product streams, including liquid fuels, high-value chemicals and low-carbon

electricity.

    While remaining committed to our home-base of South Africa, Sasol is

expanding internationally based on a unique value proposition

    Issued by:

    Alex Anderson, Head, Group Media Relations

    Direct telephone +27-(11)-441-3295;

    Mobile +27-(0)-71-600-9605;

    alex.anderson@sasol.com

    SOURCE: Sasol Limited