{"id":770217,"date":"2024-05-02T08:16:24","date_gmt":"2024-05-02T06:16:24","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=770217"},"modified":"2024-05-02T08:16:29","modified_gmt":"2024-05-02T06:16:29","slug":"sasol-cfo-stepping-down","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/trending\/770217\/sasol-cfo-stepping-down\/","title":{"rendered":"Sasol CFO stepping down"},"content":{"rendered":"\n<p>Sasol&#8217;s Chief Financial Officer and Executive Director, Hanr\u00e9 Rossouw, will leave the company. <\/p>\n\n\n\n<p>Rossouw will depart the company on 31 October 2024 &#8211; two and a half years since joining. <\/p>\n\n\n\n<p>&#8220;&#8216;Hanr\u00e9 joined Sasol on 4 April 2022 and has made a solid contribution towards achieving Future Sasol,&#8217; said Steve Westwell, the Chairman of Sasol.<\/p>\n\n\n\n<p>Rossouw will stay at the group for the financial year-end closing and the publication of the group&#8217;s annual reports for the year ending 30 June 2024, which the group said will allow for a structured handover period. <br><br>The group has started the succession process, and it will make an announcement will be made in due course.<\/p>\n\n\n\n<p>Sasol, South Africa\u2019s 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.<\/p>\n\n\n\n<p>Rossouw&#8217;s resignation means that two new faces will be leading the company, with Simon Baloyi taking over as President and Chief Executive Officer (CEO) in April 2024.<\/p>\n\n\n\n<p>Baloyi joined the group in 2002 and previously worked as the Executive Vice President of Energy Operations and Technology. <\/p>\n\n\n\n<p>Sasol has recently struggled amid global and domestic issues. <\/p>\n\n\n\n<p>In the <a href=\"https:\/\/businesstech.co.za\/news\/business\/754947\/sasol-profits-tank-as-soe-failures-take-their-toll\/\">group&#8217;s interim financial results for the six months ended 31 December 2023<\/a> (H1 2024), the group said that the volatile macroeconomic environment, which included weaker oil and petrochemical prices and continued inflationary pressure, hurt its performance. <\/p>\n\n\n\n<p>\u201cDespite some operational improvements in South Africa, persistent underperformance of the state-owned enterprises involved in Sasol\u2019s value chain and the weaker global growth outlook continue to impact Sasol\u2019s business performance,\u201d the group previously said.<\/p>\n\n\n\n<p>Headline earnings per share dropped from R30.90 in H1 2023 to R20.37 in H1 2024, while the group cut its interim dividend from R7.00 to R2.00 <\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>Read<\/strong>: <a href=\"https:\/\/businesstech.co.za\/news\/energy\/770095\/you-now-pay-r320-in-tax-every-time-you-fill-up-in-south-africa\/\">You now pay R320 in tax every time you fill up in South Africa<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sasol is on the hunt for a new Chief Financial Officer, just weeks after the group&#8217;s new Chief Executive Officer took over.  <\/p>\n","protected":false},"author":95,"featured_media":689421,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[26,2240],"class_list":["post-770217","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trending","tag-headline","tag-sasol"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/770217","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=770217"}],"version-history":[{"count":7,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/770217\/revisions"}],"predecessor-version":[{"id":770234,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/770217\/revisions\/770234"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/689421"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=770217"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=770217"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=770217"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}