https://www.engineeringnews.co.za

PetroSA announces departure of suspended CEO

Nosizwe Nokwe-Macamo

Nosizwe Nokwe-Macamo

30th October 2015

By: Natalie Greve

Creamer Media Contributing Editor Online

  

Font size: - +

South African national oil company PetroSA has reached an agreement with CEO Nosizwe Nokwe-Macamo that will see her employment terminated, with effect from November 1, the company said in a statement on Friday.

Noting that the terms of the agreement were confidential, the company said the decision was “mutually acceptable and amicable”.

“PetroSA wishes Ms Nokwe-Macamo well in respect of any future endeavour,” it stated.

Nokwe-Macamo was, along with CFO Lindiwe Bakoro, placed on “precautionary suspension” earlier this year, pending an investigation into their alleged poor performance.

PetroSA posted a R15-billion loss for the 2014/15 financial year, owing to the dismal failure of Project Ikhwezi‚ which aimed to extend the life of its Mossgas gas-to-synthetic fuel refinery.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
SBS Tanks
SBS Tanks

SBS® Tanks is a leading provider of innovative water security solutions with offices in Southern Africa, East and West Africa, the USA and an...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.285 0.341s - 170pq - 2rq
Subscribe Now