By Lehlohonolo Lehana.
Global chemicals and energy company Sasol has appointed Walt Bruns as its new chief financial officer, effective next month.
Bruns will replace Hanre Rossouw, who will step down from his role on the 31st of August 2024.
As per a Sens announcement, Rossouw will leave the company to “pursue a career opportunity”.
“On behalf of the board, I would like to thank Hanré for his significant contribution and leadership over the past two years during particularly challenging times,” said Trix Kennealy, chair of the Sasol audit committee.
The group further announced that Walt Bruns will succeed Rossouw as CFO and executive director, effective 1 September 2024, following a comprehensive selection process that considered both internal and external candidates. Bruns, who has been with Sasol for 15 years, currently serves as CFO of Sasol Southern Africa, overseeing the energy and chemicals divisions. He has held various senior management roles, including more than three years as CFO of Sasol’s global chemicals business.
Before joining Sasol, Bruns worked for Deloitte in both South Africa and the United States. The group emphasised that his extensive experience in the chemicals and energy sectors, combined with his deep knowledge of Sasol’s operations, positions him well to drive sustainable value and support Sasol’s strategic transformation.
Bruns is a certified chartered accountant in South Africa, holding a Bachelor of Commerce degree from the University of Stellenbosch and postgraduate diplomas from the University of Cape Town.
“The board welcomes Bruns and is looking forward to working with him. His background and experience are well aligned with Sasol’s near and long-term objectives, and he will play a key role in re-shaping our financial success,” Kennealy concluded.
Bruns and new CEO Simon Baloyi will not have an easy start to their working relationship, with the group expecting to make a massive loss.
In a trading statement for the year ended 30 June 2024 (FY24), Sasol said that it was negatively impacted by challenging market conditions, with pressure from depressed chemicals prices and constrained margins.