Central Energy Fund CFO Siphamandla Mthethwa will step in as acting PetroSA CEO effective June 30 after the resignation of current acting group CEO Mapula Modipa, who was leaving the national oil company after a year at the helm for personal reasons.
Mthethwa would lead the turnaround plan initiated by Mopida and her executive team until a permanent CEO was appointed.
“Under Mopida’s leadership, the company has made great strides in addressing a disappointing performance in the 2014/15 financial year,” PetroSA said in a statement on Wednesday.
The group assured that the company was stabilising and continued to be a going concern, and despite Mopida’s departure, the company remained well-resourced to implement the turnaround plan.