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Friday, 17 November 2023 17:47

Sasol appoint a new CEO and president to succeed Grobler.

By Lehlohonolo Lehana.

Sasol Ltd (SSL), an integrated chemical and energy company, announced the appointment of Simon Baloyi as its president and chief executive officer, effective April 1, 2024.

He succeeds Fleetwood Grobler, who will continue with the company as an executive advisor until December 31, 2024 to ensure a seamless handover.

Baloyi, currently Executive Vice President of Energy Operations and Technology, was selected from both internal and external candidates and has served in various management positions.

"We believe that his strategic outlook, excellent leadership skills, technical and business acumen and deep experience of our operations will stand him in excellent stead to take over the helm," Sasol said in its statement.

Baloyi, holds master's degrees in engineering management and in chemical engineering, has served in various management positions since joining Sasol in 2002.

Meanwhile Sasol has been forced to cancel its annual general meeting after protesters stormed the stage from which Grobler was trying to address shareholders.

Holding signs reading "Coal Kills" and other banners, about a dozen environmental activists took the stage at the company's Johannesburg headquarters as executives remained seated behind them. The protesters criticised the company's climate record, chanting "shame on Sasol."

The demonstration comes as some investors said that they will reject Sasol's climate resolution at Friday's annual general meeting. Old Mutual Investment Managers said it won't support several Sasol resolutions, citing what it characterised as the company's poor performance on climate targets. Ninety One has also said it plans to vote against Sasol's climate report.

Sasol is South Africa's second-largest producer of greenhouse gases, largely due to its emissions-rich process to make fuel and chemicals from coal.