CHANGES TO SASOL LIMITED BOARD OF DIRECTORS

Rhea-AI Summary

Sasol Limited (SSL) announced key changes to its Board of Directors effective June 9, 2025. Ms Xikongomelo Maluleke, a Chartered Accountant with extensive experience including roles at Shell Downstream South Africa and Lumika Renewables, has been appointed as an independent non-executive director. She holds a Bachelor of Commerce, Bachelor of Accounting Honours, CTA, and an MBA. Additionally, Mr Timothy Cumming has resigned as non-executive director and chairman of the Remuneration Committee due to personal reasons. In response, Dr Martina Flöel, the Lead Independent Director, will take over as chairman of the Remuneration Committee, while Mr Manuel Cuambe has been appointed as chairman of the Capital Investment Committee.

Positive

• Appointment of qualified independent director with strong financial background and industry experience
• Smooth transition in leadership roles with immediate replacements for vacant positions
• Maintenance of board independence requirements for both South African and US standards

Negative

• Unexpected resignation of Remuneration Committee chairman
• Potential disruption in board dynamics due to leadership changes

News Market Reaction – SSL

+3.48%

1 alert

+3.48% News Effect

On the day this news was published, SSL gained 3.48%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

JOHANNESBURG, June 9, 2025 /PRNewswire/ -- In compliance with para 3.59 of the JSE Listings Requirements and para 6.39 of the JSE Debt and Specialist Securities Listings Requirements, shareholders and noteholders are advised of the following changes to the board of directors of the Company (the Board) in accordance with the Company's nomination and succession plan for directors:

Appointment of independent non-executive director

Ms Xikongomelo Maluleke has been appointed as an independent non-executive director of Sasol with effect from 9 June 2025. Ms Maluleke satisfies the independence requirements for directors under applicable requirements in South Africa and the United States.

Ms Maluleke is a Chartered Accountant.  She attained a Bachelor of Commerce (Accounting) degree from the University of Limpopo, a Bachelor of Accounting Honours and CTA from the University of KwaZulu-Natal and an MBA from the University of Pretoria. She spent seven years at Shell Downstream South Africa in various finance roles.  Ms Maluleke was the Chief Financial Officer of Lumika Renewables (a joint venture of Reunert Limited and AP Moller Capital).  She has been serving on the Board of Sasol South Africa Limited as an appointee of the Board of Trustees of the Sasol Khanyisa Employee Share Ownership (ESOP) Trust, which she has been an independent trustee of.  Pursuant to her appointment to the Board of the Company, she has resigned from the Board of Trustees of the Sasol Khanyisa Employee Share Ownership Trust and the Board of Directors of Sasol South Africa Limited.

The Chairman of the Sasol Board, Ms Muriel Dube, said: "We are pleased to welcome Xikongomelo to the Sasol Board. Her experience and drive will strengthen our efforts as we look ahead to Sasol's next chapter".

Resignation of non-executive director and chairman of the Remuneration Committee

Mr Timothy Cumming has decided to resign as non-executive director and chairman of the Remuneration Committee of Sasol due to personal reasons. The Board accepted his resignation on 6 June 2025.

Ms Dube said: "On behalf of the Board we want to thank Tim for his dedication and contribution during his tenure as director and wish him well with his future endeavours."

Dr Martina Flöel, the Lead Independent Director who also serves as a member of the Remuneration Committee, has been appointed as chairman of the committee with effect from 6 June 2025.  Pursuant to this appointment, Dr Flöel has relinquished chairmanship of the Capital Investment Committee.

Mr Manuel Cuambe, who has served on the Capital Investment Committee since joining the Board of Sasol, has been appointed as chairman of the Capital Investment Committee effective 6 June 2025.

For further information, please contact:

Sasol Investor Relations,
Tiffany Sydow, VP Investor Relations
Telephone: +27 (0) 71 673 1929
investor.relations@sasol.com   

FAQ

Who is the new independent director appointed to Sasol's (SSL) board in June 2025?

Ms Xikongomelo Maluleke, a Chartered Accountant with experience at Shell Downstream South Africa and Lumika Renewables, was appointed as an independent non-executive director effective June 9, 2025.

Why did Timothy Cumming resign from Sasol's board in 2025?

Timothy Cumming resigned as non-executive director and chairman of the Remuneration Committee due to personal reasons, with his resignation accepted on June 6, 2025.

Who replaced Timothy Cumming as chairman of Sasol's Remuneration Committee?

Dr Martina Flöel, the Lead Independent Director, was appointed as chairman of the Remuneration Committee effective June 6, 2025.

What are Xikongomelo Maluleke's qualifications and experience?

Maluleke is a Chartered Accountant with a B.Com in Accounting, Honours, CTA, and MBA. She worked at Shell Downstream South Africa and was CFO of Lumika Renewables.

Who is the new chairman of Sasol's Capital Investment Committee?

Mr Manuel Cuambe was appointed as chairman of the Capital Investment Committee effective June 6, 2025.