Westwell to retire as Sasol chairperson

22nd May 2024 By: Creamer Media Reporter

Westwell to retire as Sasol chairperson

Sasol chairperson Stephen Westwell

Stephen Westwell will, on June 1, retire as nonexectutive director and chairperson of chemicals and energy group Sasol, after having served on the board for 12 years.

Lead independent director Muriel Dube will take up the position of acting chairperson until a full-time successor is appointed.

“The board expresses its gratitude and appreciation for the immense contribution made by Steve on the board and its committees, including on statutory committees. In addition to serving as lead independent director, Steve most ably led the board’s oversight on capital investments in his capacity as chairperson of the Capital Investment Committee.

"He also recently presided successfully over the succession of the president and CEO of the company and the filling of two vacancies on the board. Steve’s expertise, wisdom and experience will be sorely missed," Dube comments.

Further, Mpho Nkeli will retire as Sasol nonexecutive director and chairperson of the remuneration committee, with effect from August 31.

"Mpho enabled the board to consciously take account of the competing interests of the diverse stakeholders of Sasol, in carving out and implementing a remuneration philosophy and policy that sought to balance the interests of employees and investors in pursuit of a sustainable Sasol. We wish her well in her future endeavours,” Westwell says.

Timothy Cumming, who will join the board as director from June 1, will take over as chairperson of the remuneration committee from September 1.

Sasol has also appointed David GP Eyton as nonexecutive director from September 1. He will also join the company’s capital investment, safety, social and ethics, and remuneration committees.

"We are pleased to welcome a person of David’s calibre to the Sasol board. His background in energy transition and digital technologies will be valuable to Sasol as we progress our transition,” Westwell says.