Pretoria – South Africa’s national oil company PetroSA has a new interim board chaired by Nhlanhla Gumede.
The Central Energy Fund (CEF) board, which made the announcement in a statement on Thursday, said the new board brings relevant industry experience and strategic acumen.
In addition to Gumede’s appointment as chairperson, other members of the board are:
Quentin Mathew Noto Eister
Boy Manqoba Ngubo
Dr Nomvuselelo Songelwa
Sepheu Simon Masemola
This decision is the culmination of a thorough assessment, consultation and engagement with all parties concerned cognisant of the financial sustainability and the strategic direction of the national oil and gas entity, said the CEF board.
The Petroleum Oil and Gas Corporation of South Africa (PetroSA) is a subsidiary of the Central Energy Fund (CEF), which reports to the Department of Energy.
The CEF board said their combined experience will further support the strategy to deliver value to the entity’s stakeholders through good governance, operational excellence, and continued growth.
In addition, the CEF board will work closely with the interim board to provide any requisite support and to ensure that its functioning is not hindered in its efforts to bring stability and sustainability to PetroSA.
Source: South African Government News Agency