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JOHANNESBURG, South Africa, Nov. 1, 2013 /PRNewswire/ -- In accordance with paragraph 3.59(c) of the JSE Listings Requirements, Sasol (JSE: SOL, NYSE: SSL) today announced that the Sasol Limited board ("the Board") approved a change in the executive responsibilities of executive director, Ms V N Fakude, who currently has accountability for the Sustainability and Business Transformation portfolio. These changes will be effective 1 July 2014 and are pursuant to a new Group Executive Committee ("GEC") structure approved by the Board.
From 1 July 2014, Ms Fakude will be directly accountable for the Sustainability and Human Resources portfolio comprising the following Group functions: Human Resources; Public and Regulatory Affairs; Safety, Health and Environment; and Shared Services (South Africa). In the context of the new GEC structure, Ms Fakude will assume accountability for Sasol's Safety, Health & Environment function, and will relinquish accountability for the Strategy function.
At its 2013 year-end results announcement on 9 September 2013, Sasol confirmed its intention to maintain its focus on improving operational productivity, while designing an effective operating model for the Group, as part of its group-wide business performance enhancement programme. The programme aims to address both organisational complexity and cost creep at Sasol to ensure the company's long-term effectiveness and competitiveness.
While the detailed design work of Sasol's new operating model continues to progress, the Board approved the new GEC structure to align the company's top management structure with its new operating platform during a six-month transition phase.
With effect from 1 July 2014, the GEC will consist of the following portfolios reporting to the Sasol President and Chief Executive Officer, Mr D E Constable:
Sponsor: Deutsche Securities (SA) Proprietary Limited
Sasol Investor Relations Team
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