Sasol, the foremost revenue-generating company in South Africa, has recently disclosed the selection of Simon Baloyi as its incoming President and Chief Executive Officer (CEO), effective from April 1, 2024. This significant leadership transition signals a pivotal moment for the company as it grapples with mounting challenges, particularly in meeting climate targets.
Having served at Sasol since 2002, Simon Baloyi presently holds the position of Executive Vice President of Energy Operations and Technology within the organization. His extensive tenure is underscored by a wealth of experience, complemented by Master’s degrees in Engineering Management and Chemical Engineering, positioning him well to navigate the complexities of the company’s operations and industry landscape.
Expressing his anticipation, Baloyi remarked, “I am looking forward to working closely with the Board, management, the Sasol family, and all our stakeholders.”
The imminent transition will witness Baloyi succeeding Fleetwood Grobler, the current incumbent CEO. Grobler, an integral figure within Sasol, will pivot to an executive advisor role until December 31, 2024, ensuring a seamless passing of the baton.
Acknowledging Grobler’s contributions, Stephen Westwell, Chairman of Sasol, praised his unwavering leadership. Westwell affirmed, “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.”
Furthermore, Westwell expressed gratitude, recognizing Grobler’s imminent 40th service anniversary with Sasol and commending his dedication and commitment throughout his illustrious career.
Reflecting on the succession plan, the Board emphasized its confidence in Baloyi’s capacity to steer Sasol through its current challenges. Citing his strategic foresight, exemplary leadership, technical prowess, and profound familiarity with Sasol’s operations, the Board believes Baloyi is well-equipped to assume the mantle of leadership.
Baloyi’s ascension to the helm arrives amidst a challenging phase for Sasol, characterized by escalating pressures to align with stringent climate targets. Notably, the company encountered a setback in its efforts to secure exemptions for sulfur dioxide emissions at its Secunda petrochemical complex, slated for implementation in 2025.
Compounding the challenges, major South African asset managers such as Old Mutual Investment Managers and Ninety One have signaled their intention to vote against various resolutions at Sasol’s upcoming annual general meeting. Their dissent stems from Sasol’s inability to meet established climate targets.
As Sasol braces itself for a new era under Baloyi’s leadership, the company faces a crucial juncture in addressing environmental concerns while ensuring operational resilience and strategic growth in South Africa’s evolving industrial landscape. Baloyi’s appointment signifies a pivotal moment not just for Sasol but also for the broader discourse on corporate sustainability and responsibility in the country’s economic sphere.
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