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Sasol (NYSE:SSL) Limited (JSE:SOL; NYSE:SSL), a global chemicals and energy company, announced Monday significant changes to its Board of Directors, as disclosed in a recent Form 6-K filing with the United States Securities and Exchange Commission.
The company, headquartered in Johannesburg, South Africa, informed shareholders and noteholders of the appointment of Ms. Xikongomelo Maluleke as an independent non-executive director effective today. Ms. Maluleke, a Chartered Accountant with a diverse financial background, including a stint as the Chief Financial Officer of Lumika Renewables, has met the independence criteria set forth by both South African and U.S. regulations.
Prior to this new role, Ms. Maluleke served as an Independent (LON:IOG) Trustee of the Sasol Khanyisa Employee Share Ownership Trust and was an appointee on the Board of Sasol South Africa Limited. With this recent appointment to Sasol’s Board, she has resigned from her positions with the Trust and Sasol South Africa Limited.
The Chairman of Sasol’s Board, Ms. Muriel Dube, expressed enthusiasm about Ms. Maluleke’s addition to the board, citing her experience and drive as valuable assets for the company’s future.
Simultaneously, the company announced the resignation of Mr. Timothy Cumming from his role as a non-executive director and chairman of the Remuneration Committee, effective from Sunday. Ms. Dube acknowledged Mr. Cumming’s contributions and dedication during his tenure.
Following these changes, Dr. Martina Flöel, the Lead Independent Director and a member of the Remuneration Committee, assumed the role of chairman of the committee as of Sunday. Concurrently, Mr. Manuel Cuambe, a member of the Board, has been appointed as chairman of the Capital Investment Committee.
These board adjustments align with Sasol’s nomination and succession plan for directors, ensuring a smooth transition and continuity in the company’s governance.
The information for this article is based on a press release statement.
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