Sasol’s Constable to transition to advisory role
Sasol president and CEO David Constable has decided not to extend his contract of employment with the company, which expires on May 31, 2016, for a further term beyond June 30, 2016 – the company’s financial year-end.
To support its megaprojects, Sasol entered into a special advisory services agreement with Constable for the 2017 financial year.
Following his appointment in 2011, Constable prioritised a reduction in organisational complexity and drove an ambitious growth programme, said chairperson Dr Mandla Gantsho.
He added that the board had a “detailed” succession plan and structured process in place for the position of the president and CEO of the company.
“With 12 months at our disposal, I’m confident that the groundwork we initiated some time ago will enable the board to identify and appoint an accomplished leader who is best-suited to take Sasol to the next level. Further announcements in this regard will follow in the new financial year,” he said in a statement.
Constable added that he was “very proud” of the progress the group had made towards its goal of ensuring its long-term sustainability and success.
“As I close out the final 12 months of my tenure, I look forward to driving the company’s 2016 financial year priorities, as we embed the group-wide change programme we embarked on four years ago,” he noted.
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