The woman fighting to stay CEO of one of South Africa’s biggest miners – worth R55 billion

Dr Nombasa Tsengwa is undergoing a court battle to be reinstated as CEO of Exxaro after being suspended.
Exxaro is one of South Africa’s biggest companies. The coal mining company has a market cap of roughly R55 billion.
Tsengwa started her career in the mining industry in 2003 when she joined the then Kumba Resources as General Manager of Safety, Health and Environment.
Following the unbundling of Kumba and the formation of Exxaro Resources, she was appointed Executive General Manager of Safety and Sustainable Development.
She also became a Regional General Manager of Coal Tied Collieries, overseeing three underground and four opencast operations.
In 2015, she served as Acting Executive Head of Coal Operations before formally taking over the role in May 2016. She would then oversee the operations and performance of the Coal Business and ventures managed by Exxaro Coal.
In 2020, she was appointed Managing Director of Minerals, a new division that expanded her Coal and Ferroalloys portfolio to include new low-carbon minerals.
Shortly after in May 2021, she was appointed as CEO Designate, taking over as CEO on 1 August 2022.
She is currently a member of the Exxaro Board and the Board of the Minerals Council of South Africa.
She previously served as a Non-Executive Director on the Board of Astral Foods for nine years (2008–2017), chaired the Remuneration Committee and served on the Nominations Committee.
Tsengwa received the Standard Bank Businesswoman of the Year Award in 2017, and one year later, won the ‘Africa’s Most Influential Woman in Business and Government – Mining Industry Category’ award at the Pan African Awards.
She has a PhD in Agronomy from the University of Maryland in the USA and also studied an Executive Development programme at INSEAD in France.
Trouble
However, Tsengwa was placed on precautionary suspension until an investigation into allegations over her conduct was concluded in December 2024.
The claims related to workplace conduct and governance practice.
Law firm ENS is conducting the probe, with Finance Director Riaan Koppeschaar stepping in as acting CEO.
Her suspension comes amidst the group’s attempts to diversify away from coal, with its production of the dirtiest fossil fuel expected to decrease in the 2024 financial year.
Following a failed attempt to purchase a copper mine, the company is looking into investing in manganese, a crucial component of electric cars.
However, Tsengwa is fighting her suspension, taking the matter to the Pretoria High Court.
Reports from News24 show that the CEO’s case is expected to be filled with the Pretoria High Court on 28 January.
The Business Times and City Press also reported that Exxaro has received an online petition expressing support from the suspended CEO, with close to 130 people signing the petition. However, their identities and status were not verified.
Disgruntled Exxaro employees have accused the company’s board of creating a toxic work culture, which has pitted employees against each other.
These employees, including senior managers who have been with the company for more than 20 years, have requested the immediate reinstatement of Tsengwa.
Accusations claim that the board is protecting the company’s head of coal, Kgabi Masai, who was also suspended.
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