Bongani Nqwababa and Stephen Russell Cornell have been appointed joint-president and chief executive officers of Sasol Ltd., effective July 1, 2016, the beginning of the company’s next financial year.
David Constable, current president and chief executive officer, announced in June that he will not extend his contract with Sasol beyond June 30, 2016.
Nqwababa is currently Sasol’s chief financial officer, and a member of the Sasol Ltd. board and group executive committee. Cornell is currently executive vice-president, international operations, and a member of the group executive committee.
Cornell was appointed as to his current position on Feb. 1, 2014. He is responsible for Sasol’s global operations outside southern Africa, which includes his role of executive sponsor for the Lake Charles chemicals project in Louisiana. He was the chief operating officer of US fuels and global head of major downstream projects at BP PLC near Chicago until January 2014.
Before that he was vice-president for US refining at BP. Prior to joining BP, Cornell served in a number of capacities at Total SA and heritage Total companies from 1988 to 2007, and began his career with Exxon Corp. from 1979 to 1988.
Nqwababa has been executive director and chief financial officer of Sasol since Mar. 1. He initially was appointed as nonexecutive director on Dec. 5, 2013, but resigned on Sept. 26, 2014, upon his appointment as an executive director.
He was the finance director of Anglo American Platinum Ltd. from January 2009 until Feb. 18, 2015, and chairman of the South African Revenue Services Audit Committee until July 24. He is a former finance director of Eskom Holdings Ltd. Prior to joining Eskom, he served as treasurer and chief financial officer of Shell Southern Africa.