Photo by: Duane Daws
JOHANNESBURG (miningweekly.com) – Following his resignation as FD of mining major Anglo American Platinum (Amplats) on Monday, Bongani Nqwababa has been appointed executive director and CFO designate of petrochemicals group Sasol.
Pursuant to his appointment as CFO designate, he had also stepped down as Sasol nonexecutive director and audit committee member, with immediate effect.
Paul Victor would continue as acting CFO of Sasol until Nqwababa assumes office on March 1, 2015, while Nomgando Matyumza had been appointed an independent nonexecutive director and a member of the audit committee to fill the vacancy resulting from Nqwababa’s resignation.
Nqwababa previously served as FD of Eskom and CFO of petrochemicals group Shell Southern Africa, and currently holds the chairpersonship of the South African Revenue Service’s audit committee.
He has an Honours degree in Accounting from the University of Zimbabwe, as well as a Masters degree in Business Administration from the Universities of Manchester and Wales.
Describing him as “no stranger to Sasol”, president and CEO David Constable said the group was delighted that Nqwababa had agreed to make the shift from being a nonexecutive board member to fulfilling a key role on the management team of the company.
“Bongani’s appointment concludes what was an extensive search to find a CFO who has both the breadth and depth of experience within the broader global resources and energy sectors,” he said in a statement.
Amplats, meanwhile, thanked Nqwababa for his “immense contribution”, adding that its nominations committee would now begin the process of identifying a suitable successor.