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Sasol Co-CEO Stephen Cornell Resigned

Sasol CEOs forced to quit after US fiasco

Sasol’s [ JSE:SOL] joint CEOs, Bongani Nqwababa and Stephen Cornell, have agreed to resign after an independent review into the company’s disastrous US project. The Lake Charles Chemicals Project (LCCP), which will have seven production units that deliver various chemicals including a plastics variant called polyethylene, will cost between $12.6bn and $12.9bn (R190bn at current exchange rates) – almost double the original budgeted amount.


Name: Stephen Cornell

Continent: Africa

Country: South Africa

Company: Sasol

Position: Co-CEO

Reason: Resigned

Announcement Date: October 27, 2019, 11:00pm

Source 1: https://www.fin24.com/Companies/Industrial/sasol-ceos-forced-to-quit-after-us-fiasco-20191028


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