Sasol CFO quits after tumultuous year
Sasol CFO Paul Victor is set to resign in 2022 after six years in the position, the South African fuels and chemicals producer reported on July 1, following a painful financial year for the company. He will be replaced by Hanre Rossouw, the current CFO at platinum producer Royal Bafokeng Platinum.
Sasol posted a staggering loss of 91.3bn rand ($5.3bn) in the 12 months ending on June 30, 2020, after demand for its products slumped in the wake of the coronavirus pandemic. It is undertaking a divestment programme to improve its balance sheet that saw the sale in late June of a 30% stake in the ROMPCO pipeline that carries Mozambican gas to South Africa to state-owned entities in both countries.
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Victor has been with Sasol for over two decades. The company did not give a reason for Victor's departure. He is staying on with the company until it publishes its financial results and annual reports for the year ending June 30, 2022, although Rossouw will join Sasol in April 2022 and officially assume the position in July 2022.