Yesterday Sasol announced that CFO and executive director Christine Ramon was set resign when results are released in September. This is big news, especially if you have been following Sasol for the last 8 years or so while Christine has been there. She has been very visible and often writes interesting operational updates to investors. Here is what CEO David Constable had to say in the announcement.
"Christine joined Sasol in 2006, and has been a key member of the group executive committee and the Sasol Limited Board throughout her tenure. Over her 7-year career at the company, Christine has been part of landmark transactions such as the Sasol Inzalo Black Economic Empowerment deal in 2008 and our Canadian gas acquisitions in 2010/11. In addition, she drove several important initiatives, including the corporate structure simplification process, which commenced in 2011, and the successful $1 billion bond issuance last year. Under her financial stewardship, Sasol maintained a prudent balance sheet and sound financial risk management processes."
As you can see, she was a very operational CFO. There was no information as to where she is going but I'd imagine she'd be heading up another large listed company. Maybe she will take Roger Jardine's place at Aveng? We will have to wait and see but I reckon it is certainly a loss for Sasol.