StockNews.AI
SSL
StockNews.AI
71 days

CHANGES TO SASOL LIMITED BOARD OF DIRECTORS

1. Xikongomelo Maluleke appointed as independent non-executive director effective June 2025. 2. Maluleke's finance background enhances Sasol's expertise and governance. 3. Timothy Cumming resigns as non-executive director due to personal reasons. 4. Dr. Martina Flöel appointed as Remuneration Committee chair following Cumming's resignation. 5. Leadership changes may affect Sasol’s strategic direction and operational performance.

5m saved
Insight
Article

FAQ

Why Bullish?

New appointments can bring fresh perspectives, improving company governance and strategy. Historical instances show that leadership changes can positively influence stock performance, particularly when new directors have relevant expertise.

How important is it?

Leadership changes can significantly influence investor confidence and future performance results, making this news pertinent for stakeholders considering SSL's market trajectory.

Why Long Term?

The impact of board changes usually unfolds over the medium to long term as new strategies are implemented. For example, a successful corporate governance change resulted in stock price increases for companies such as Procter & Gamble within a year of board modifications.

Related Companies

SCLRDS.APTR
, /PRNewswire/ -- In compliance with para 3.59 of the JSE Listings Requirements and para 6.39 of the JSE Debt and Specialist Securities Listings Requirements, shareholders and noteholders are advised of the following changes to the board of directors of the Company (the Board) in accordance with the Company's nomination and succession plan for directors: Appointment of independent non-executive director Ms Xikongomelo Maluleke has been appointed as an independent non-executive director of Sasol with effect from 9 June 2025. Ms Maluleke satisfies the independence requirements for directors under applicable requirements in South Africa and the United States. Ms Maluleke is a Chartered Accountant.  She attained a Bachelor of Commerce (Accounting) degree from the University of Limpopo, a Bachelor of Accounting Honours and CTA from the University of KwaZulu-Natal and an MBA from the University of Pretoria. She spent seven years at Shell Downstream South Africa in various finance roles.  Ms Maluleke was the Chief Financial Officer of Lumika Renewables (a joint venture of Reunert Limited and AP Moller Capital).  She has been serving on the Board of Sasol South Africa Limited as an appointee of the Board of Trustees of the Sasol Khanyisa Employee Share Ownership (ESOP) Trust, which she has been an independent trustee of.  Pursuant to her appointment to the Board of the Company, she has resigned from the Board of Trustees of the Sasol Khanyisa Employee Share Ownership Trust and the Board of Directors of Sasol South Africa Limited. The Chairman of the Sasol Board, Ms Muriel Dube, said: "We are pleased to welcome Xikongomelo to the Sasol Board. Her experience and drive will strengthen our efforts as we look ahead to Sasol's next chapter". Resignation of non-executive director and chairman of the Remuneration Committee Mr Timothy Cumming has decided to resign as non-executive director and chairman of the Remuneration Committee of Sasol due to personal reasons. The Board accepted his resignation on 6 June 2025. Ms Dube said: "On behalf of the Board we want to thank Tim for his dedication and contribution during his tenure as director and wish him well with his future endeavours." Dr Martina Flöel, the Lead Independent Director who also serves as a member of the Remuneration Committee, has been appointed as chairman of the committee with effect from 6 June 2025.  Pursuant to this appointment, Dr Flöel has relinquished chairmanship of the Capital Investment Committee. Mr Manuel Cuambe, who has served on the Capital Investment Committee since joining the Board of Sasol, has been appointed as chairman of the Capital Investment Committee effective 6 June 2025. For further information, please contact: Sasol Investor Relations,Tiffany Sydow, VP Investor RelationsTelephone: +27 (0) 71 673 1929[email protected]    SOURCE Sasol Limited WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

Related News