South Africa - 06

South Africa: Forced Leave for Senior Executives Deepens PetroSA Leadership Vacuum

This week the board of PetroSA imposed a leave of absence on three senior executives, allegedly to enable an inquiry into the company’s poor performance to take place. According to a report in the national daily newspaper Business Day on 28 May, PetroSA CEO Nosizwe Nokwe-Macamo, CFO Lindiwe Mthimunye-Bakoro and Acting Vice President of Upstream Operations Andrew Dippenaar had a choice of accepting the board’s request that they take “gardening leave” or else faced suspension. Although the three will likely accede to the board’s request, legal challenges may be brought against the board. The announcement underscores the growing governance issues at the NOC, as PetroSA has struggled to fulfill key projects and is under considerable financial strain.


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