Sasol Integrated Report 2024 - Book - Page 128
INTRODUCTION
ABOUT SASOL
STRATEGIC OVERVIEW
BUSINESSES
ESG
REMUNERATION REPORT
DATA AND ASSURANCE / ADMINISTRATION
GOVERNANCE continued
GROUP GOVERNANCE
continued
Our Board Committees as at 30 June 2024 continued
REMCO
Remuneration Committee
SSEC
CHAIRMAN: MEK Nkeli*
MEMBERS
MJ Cuambe
TJ Cumming**
NNA Matyumza***
S Subramoney
Safety, Social and Ethics Committee
CHAIRMAN: MBN Dube
MEETINGS
ATTENDANCE
4
100%
M Flöel
MEMBERS
S Baloyi*
MJ Cuambe
TJ Cumming**
MEETINGS
M Flöel
VD Kahla
MEK Nkeli
ATTENDANCE
5
100%
*
to retire as non-Executive Director and Chairman of the Remuneration Committee
on 31 August 2024
*
**
appointed as member of this Committee on 1 June 2024 and will take over as
Chairman of the Remuneration Committee on 1 September 2024
appointed as member from 1 April 2024, replacing Mr Fleetwood Grobler
who retired on 31 March 2024
**
appointed as member of the Committee on 1 June 2024
***
to retire as member on 8 September 2024
Mandate
Mandate
• To ensure the Group remunerates its employees fairly, responsibly and
transparently by, inter alia, implementing affordable, competitive and
fair reward practices so as to promote the achievement of strategic
objectives and positive outcomes in the short, medium, and long term.
• To monitor and ensure remuneration related governance is maintained
and to provide a channel of communication between the Board
and management on remuneration matters.
• To perform the role of a Social and Ethics Committee as required in
terms of the Companies Act.
• To ensure that the manner in which Sasol governs social and ethics
performance promotes an ethical culture and that Sasol conducts itself
as a responsible corporate citizen.
• To monitor the Group’s policies and standing in relation to ethical and
optimal labour and employment practices and care for our people.
• To monitor Sasol’s strategies, policies, performance and the
progressive implementation of its sustainability, safety, health and
environment (SHE), social and ethics practices.
• To provide strategic oversight of matters relating to people within the
organisation, with the main objective of creating a globally competitive
workforce and to ensure employees work towards accomplishing the
strategic objectives of the Company.
Key matters dealt with in 2024 and focus areas for 2025
• Ensuring effective reward practices and governance throughout the
execution of the Remuneration Policy.
• Continuing to engage with shareholders on the Group’s key focus areas
in our Remuneration Policy and Implementation Report and ensuring
the appropriateness of our reward practices.
• Reviewing short-term and long-term incentive plan targets and
design principles to ensure ongoing relevance and alignment with
our strategic direction.
• Comprehensive review of the long-term incentive plan rules as well
as the introduction of the post termination service shareholding
requirements for members of the Group Executive Committee,
including Executive Directors.
• Reviewing the status of healthcare and retirement plans in the Group.
• Reviewing people retention risks.
For more detail refer to the Remuneration Report page 133.
Key matters dealt with in 2024 and focus areas for 2025
• Ensuring processes are in place to promote an ethical culture which
encourages safety.
• Humanising safety and ensuring the safety of our employees, suppliers,
customers and communities – the Committee continues to closely
monitor the implementation of the safety remediation programme
and the processes being put in place to avoid the occurrence of highseverity incidents.
• Monitoring the Group’s activities relating to good corporate citizenship
and ensuring the protection of human rights.
• Ensuring Sasol’s sustainability, specifically focusing on climate change,
our air and water compliance obligations and Sasol’s impact on the
environment, including ensuring sustainable water and biodiversity
management, and the implementation of initiatives to reduce plastic
pollution.
• Continuing with ensuring our stakeholder relationships are
strengthened to ensure, among others, economic transformation,
localisation and a just transition.
• Providing oversight on matters relating to substantive sustainability
risks and liabilities and monitoring key responses and developments.
SASOL INTEGRATED REPORT 2024
126
The CEO is not a member of the Audit Committee, Remuneration Committee
nor the Nomination and Governance Committee but attends meetings
by invitation. He is requested to leave the meeting, where appropriate,
before any decisions are made that relate to him personally
NGC
CIC
AC
CIC
REMCO SSEC
SSEC
Mr Stephen Westwell resigned as member of these
Committees upon his appointment as interim
Chairman of the Board on 11 November 2023
Mr David Eyton will join these Committees as a
member on 1 September 2024
For more detail refer to the Report of the Chairman of the Safety, Social and Ethics
Committee and other sustainability matters page 69.
