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Sasol names South African coal veteran Nkosi as next Chairman

Sasol Ltd. appointed Sipho Nkosi to its board and said the former coal-industry executive will become chairman in November when Mandla Gantsho steps down.

The change of leadership comes during a vital year for Sasol, as the South African fuel and chemical manufacturer nears completion on its $11.8 billion Lake Charles project in the U.S., an ethylene plant that will further diversify the company from its liquid-fuels business.

Nkosi, who led coal miner Exxaro Resources Ltd. as CEO for nearly a decade and served as president of the country’s mining lobby, will join the Sasol board on May 1 as independent non-executive director, the company said in a statement Thursday. He will replace Gantsho as chairman after Sasol’s annual general meeting.

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Nkosi “will provide the necessary direction and leadership in an exciting chapter of Sasol’s history,” said Gantsho, who has served in the role for more than five years. JJ Njeke, a director at Sasol, will also retire at the AGM.

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