Sasol Integrated Report 2024 - Book - Page 125
INTRODUCTION
ABOUT SASOL
STRATEGIC OVERVIEW
BUSINESSES
ESG
DATA AND ASSURANCE / ADMINISTRATION
REMUNERATION REPORT
GOVERNANCE continued
GROUP GOVERNANCE
continued
Diversity of our Board as at 30 June 2024
Women (%)
The Board’s diversity and skills ensure that Sasol is guided to deliver a sustainable organisation.
Directors are chosen for their corporate leadership skills, experience and expertise. A combination
of different business, geographic and academic backgrounds as well as diversity in age, gender
and race allow for robust debate and more considered decision-making, supporting the sustainable
growth of the business.
% of South African Directors
AC
Audit Committee
CIC
Capital Investment Committee
NGC
Nomination and Governance Committee
REMCO
SSEC
Tenure
Independence
4 0 – 3 years
7 4 – 8 years
1 9+ years
7 61 – 70 years
3 51 – 60 years
2 40 – 50 years
Remuneration Committee
50% Target
66% Achieved
40% Target
50% Achieved
It is the Board’s policy that broader diversity at Board level will be promoted, all facets of diversity
will be considered in determining the optimal composition of the Board and, where possible,
be balanced appropriately. All Board appointments are made on merit, having due regard for
the benefits of diversity which the Board as a whole requires to be effective.
Age (years)
Historically disadvantaged individuals (%)
9 non-Executive Directors
3 Executive Directors
Safety, Social and Ethics Committee
Succession of our Board
Our Board has the following skills and experience (% of Directors)
AC
Social, SHE and sustainability
42
Engineering
42
33
Chemicals
17
Oil, gas and upstream business
CIC
67
Capital projects
17
Sales and manufacturing
NGC
42
Finance
Digital, including cybersecurity
8
58
Mergers and acquisitions
REMCO
Public policy and regulatory
42
Legal and compliance
42
Human resources and remuneration
SSEC
50
92
Strategy and risk management
Global experience
75
Diverse skills and experience within each Board Committee ensures more robust strategic
planning and is essential for the Board to effectively guide the Company towards success.
Considerable focus was given to succession this
year. Leadership capability development, to ensure
Sasol has the right leaders in place now and in the
future, is crucial. The Board consciously embarked
on a process to reduce its size and refresh its
skills and competence in a systematic manner to
ensure it will effectively lead Future Sasol. Factors
taken into consideration include continuity,
Sasol’s global presence, aspirations and strategic
objectives, the complexity of its operations and
the most significant challenges it is likely to face
over the short and long term. Some of these plans
were, however, overtaken by certain events
during the year, among others, the resignation
of Mr Sipho Nkosi and Mr Andreas Schierenbeck.
Sasol also announced that Mr Hanré Rossouw will
step down as Executive Director and Chief Financial
Officer on 31 August 2024 to pursue a new career
opportunity. Ms Nomando Matyumza will retire as
non-Executive Director on 8 September 2024
when she reaches the tenth anniversary of her
appointment to the Sasol Board.
SASOL INTEGRATED REPORT 2024
123
As part of the succession strategy, Mr Simon
Baloyi was appointed to succeed Mr Fleetwood
Grobler as Executive Director and President
and Chief Executive Officer from 1 April 2024.
Mr Tim Cumming, who has extensive experience
in remuneration matters, the mining and financial
services sectors, was appointed as Independent
non-Executive Director from 1 June 2024. He
will succeed Ms Mpho Nkeli, who will retire on
31 August 2024 as non-Executive Director and
Chairman of the Remuneration Committee.
Mr David Eyton will also join the Board as
Independent, non-Executive Director from
1 September 2024. His extensive experience in
the oil and gas sector and background in the
energy transition and digital technologies will be
valuable to Sasol as we progress our transition.
Mr Walt Bruns will replace Mr Hanré Rossouw as
Executive Director and Chief Financial Officer on
1 September 2024.
www
Sasol’s Form 20-F will provide more detail regarding skills
and experience of each Director.
