Sasol Integrated Report 2024 - Book - Page 20
INTRODUCTION
ABOUT SASOL
STRATEGIC OVERVIEW
BUSINESSES
ESG
REMUNERATION REPORT
DATA AND ASSURANCE / ADMINISTRATION
LEAD INDEPENDENT DIRECTOR’S STATEMENT
The last year has been tough with a challenging time
ahead. We are confident that under Simon’s leadership,
Team Sasol will turn challenges into opportunities.
Muriel Dube
Sasol’s policies and Code of Conduct are
unambiguous regarding transparency and
integrity. This commitment enables us to uphold
our role as a responsible corporate citizen.
Lead Independent Director
Dear stakeholders
Sasol’s external environment proved to be very
challenging in FY24, marked by volatility and the
profound impact on supply and demand arising
from geopolitical factors. The energy sector faced
more pressure to decarbonise and ensure that a
suitable and just transition plan is put in place.
Sasol’s recognition of this is evident in two of
the Material Matters identified in the year:
‘Transforming for resilience’ and ‘Sustainably
decarbonising for Future Sasol’.
The outcome of the recent elections in South
Africa and the subsequent formation of the
Government of National Unity bodes well for
the certainty required for business to thrive.
We are optimistic that this will be a catalyst for
South Africa to meet the requirements to exit
the Financial Action Task Force’s grey list soon,
thereby creating a more favourable business
environment. Additionally, the recent
improvement in power supply stability is
promising and is expected to contribute to
driving much needed economic growth in
the country.
Our safety record was unacceptable with five
heartbreaking workplace fatalities occurring
in FY24 and an additional one thereafter, that
altered the lives of the bereaved families and
loved ones forever. Our teams are focussed on
ensuring safety is not only a daily priority, but
more importantly is embedded in every task
no matter how routine. This is echoed in the
theme of our FY24 Integrated Report,
‘Safely delivering today, shaping tomorrow’,
and our acknowledgement that it is the collective
responsibility of Team Sasol to address critical
safety measures. Building the right safety culture
is crucial in building trust and encouraging
individuals and teams to speak up when actions
deviate from what is required or acceptable.
By enabling focused leadership, Sasol can
enhance its competitiveness through reliable
operational performance, increased cash
generation, and the successful pursuit of
opportunities to build the business.
commissioned an independent assessment of
the various levels of leadership across the Group.
The results will allow the Board to focus on
fostering an ethical culture and higher purpose
within the Sasol Group.
Other changes to the Board of Directors
Shared value
Appointment of our new President
and Chief Executive Officer
This year, we also announced several other
changes to the Board of Directors (the Board).
I would like to express my gratitude to departing
non-Executive Directors; Mses Mpho Nkeli and
Nomgando Matyumza, Messrs Sipho Nkosi,
Andreas Schierenbeck, and Hanré Rossouw
in his capacity as Executive Director, who
resigned from the Board. We appreciate their
valuable contributions to Sasol and wish
them all the best in future endeavours. We are
pleased to welcome Messrs Timothy Cumming
and David GP Eyton who were appointed as a
non-Executive Directors with effect from
1 June 2024 – 1 September 2024, respectively.
In FY24, we continued to fulfil our social
responsibility in the countries where we operate,
contributing to the upliftment of surrounding
communities. Beyond the positive contribution
of our activities to the economies of our host
nations – including representing 5,19% of the
Gross Domestic Product for South Africa – we
committed R693,2 million in social investment
globally in the year.
On 1 April 2024, Simon Baloyi succeeded
Fleetwood Grobler as President and Chief
Executive Officer (CEO). Fleetwood served Sasol
for 40 years, with the last four and a half as CEO.
During his tenure, he placed Sasol on a path
aimed at greater resilience and helped the
Company to live up to our Purpose ‘Innovating
for a better world’. We are deeply grateful
for Fleetwood’s dedication to Sasol over his
illustrious career and wish him a
fulfilling retirement.
We are inspired about the Company’s outlook
under Simon’s direction. The Board and I have full
confidence in his ability to lead Sasol. We believe
that his strategic vision, exceptional leadership
skills, combined with technical and business
acumen and in-depth knowledge and experience
position him perfectly to guide our Company
into the future. The recent streamlining of the
operating model aligns with his strategic vision
to sustainably improve the lives of our customers
and communities, empowered by inspired people.
Ethical leadership
As a Board, we remain committed to ethical
and effective leadership. It is essential to ensure
that Sasol’s policies and Code of Conduct are
unambiguous regarding transparency and
integrity. This commitment enables us to
uphold our role as a responsible corporate
citizen, improving the social, economic and
environmental circumstances of our fenceline
communities. To reinforce our dedication to
ethical leadership, in FY24 the Board
SASOL INTEGRATED REPORT 2024
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Closing thanks
Each day, nearly 30 000 members of Team Sasol
work at our facilities or offices around the world.
I want to thank them for all for their dedication
and hard work over the past year. As we begin
Sasol’s new financial year, there is no doubt that
challenges await us, but they will be overcome
through the strength of a cohesive team under
Simon’s capable leadership.
Muriel Dube
Lead Independent Director
29 August 2024
