Sasol appoints new CEO

Sasol, South Africa’s biggest company by revenue, has announced the appointment of Simon Baloyi as its new President and Chief Executive Officer (CEO) with effect from 1 April 2024.

Baloyi has been at the group since 2002 and currently works as the Executive Vice President of Energy Operations and Technology. He also holds Master’s degrees in Engineering Management and Chemical Engineering.

“I am looking forward to working with the Board, management, the Sasol family and all our stakeholders,” Baloyi said,

Baloyi will take the reins from Fleetwood Grobler, who will continue to work in an executive advisor role until 31 December 2024 to ensure a smooth transition.

“Through Fleetwood’s resolute leadership, Sasol is on track to be more resilient, and live up to our purpose of innovating for a better world,” Stephen Westwell, Chairman of Sasol, said.

“In January 2024, Fleetwood will celebrate his 40th service anniversary with Sasol and we are extremely thankful for his dedication and commitment to Sasol over his illustrious career.”

“In addition, the Board has full confidence in Simon’s ability to lead Sasol. We believe that his strategic outlook, excellent leadership skills, technical and business acumen and deep experience of our operations will stand him in excellent stead to take over the helm.”

Baloyi will take over during a challenging period for the group – where it faces increasing pressure to adhere to climate targets.

In July, Sasol failed in its bid to have its sulfur dioxide emissions at its Secunda petrochemical complex at exempted from limits to be imposed in 2025.

Old Mutual Investment Managers and Ninety One – two of South Africa’s largest asset managers – have also indicated that they will vote against a series of resolutions at the group’s annual general meeting due to its failure to hit its climate targets.

Read: Sasol’s legal woes mount as Transnet comes sniffing for millions