Sasol Ltd. said energy operations and technology executive Simon Baloyi will take over as chief executive officer of the South African fuel and chemical manufacturer from April.
He will take over from Fleetwood Grobler, who led Sasol for four years. Grobler will remain in a executive adviser role until December 2024, to ensure a smooth and structured handover, the company said.
The handover is scheduled to occur at a critical point for Sasol, the second biggest emitter of greenhouse gases in South Africa. It’s announced a plan to target a 30% reduction in emissions by 2030 and expects to accomplish that by replacing some of the coal it uses — to make synthetic fuel and chemicals — with natural gas. It’s also testing the viability of making green hydrogen.
Sasol has been accused of having a vague plan to deal with emissions. Old Mutual Investment Managers, an investor, said it will vote against a number of resolutions at the annual general meeting on Friday because of its poor performance on climate targets.
