Sasol has appointed Rhidwaan Gasant as an independent non-executive director with effect from February 1, the group said on Tuesday. Gasant is currently chairperson of Growthpoint Properties. He is a Chartered Accountant and served as a senior audit manager at KPMG before joining Mobil Oil Southern Africa.
He was also the former financial director of Engen and CEO of Energy Africa. Gasant has extensive board-level experience, including recently serving as lead independent director of AngloGold Ashanti and audit committee chairman of MTN Nigeria Communications. “He has been involved in various corporate actions in South Africa and internationally, and brings over three decades of financial, governance and corporate experience to the Sasol board,” the group said in a statement.
‘We are pleased to welcome Rhidwaan to the Sasol board. His extensive financial, governance and energy sector experience will further strengthen the board’s oversight and strategic guidance as Sasol continues to deliver on its commitments to shareholders and other stakeholders,“ said Sasol chairperson Muriel Dube. Business Day previously reported that Sasol has set out a three-year growth plan focused on cutting costs and reducing debt to restore its capacity to resume dividend payments.
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The strategy is grounded in strengthening and growing the group, an anchor company in South Africa’s economy and indispensable to a town such as Sasolburg. The growth blueprint includes upping its production of fuel from coal while expanding its green energy business. Sasol has slashed the budget for its greenhouse gas emission reduction roadmap by 70% and now plans to spend no more than R7bn on the initiative. It believes it will still be able to reduce its global greenhouse gas emission footprint by 30% come 2030.
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