Pragasen Naidoo has been appointed CEO of national oil company PetroSA.
He is the first permanent CEO to be appointed at PetroSA since 2014.
His appointment is effective from January 17, subject to a transitional arrangement with the Central Energy Fund (CEF), a holding company of PetroSA.
Naidoo previously served as group chief operations and business development officer at the CEF, where he has held various roles in recent years.
“Mr Naidoo’s demonstrable industry experience and acumen will continue to deliver value to the entity’s shareholders and stakeholders through good governance, operational excellence and sustainable growth. We are confident that he will contribute immensely towards addressing our business’ sustainability challenges, as well as positioning PetroSA for the future,” says PetroSA chairperson Frans Baleni.
CEF chairperson Dr Monde Mnyande adds that the appointment could not have come at a better time.
“[The CEF is] committed to work closely with the PetroSA board and the group CEO to provide any requisite support to bring stability, sustainability and growth at PetroSA; the subsidiary which accounts for 85% of the group revenue,” he notes.