PetroSA Gets its Umpteenth Acting New CEO - Africa’s premier report on the oil, gas and energy landscape.

PetroSA Gets its Umpteenth Acting New CEO

South Africa has appointed a new acting Chief Executive officer for PetroSA, the state hydrocarbon company.

Sesakho Magadla, who has an engineering background, succeeds former acting CEO Sandisiwe Ncemane, who has returned to the Central Energy Fund (CEF), the parent company of PetroSA.

Ms. Magadla, until her new appointment, was acting as COO for the company.

This means that her successor as COO, will be an acting COO.

A statement from the company indicates that a permanent group CEO appointment is imminent.

Since Nosizwe Nocwe-Macamo was suspended as CEO in 2015, PetroSA has been  run by a succession of acting CEOs

Starting from Mapula Modipa, who was succeeded by Siphamandla Mthetwa, there have been six acting CEOS since, a challenge which clearly imp bues operations at the company with a cloud of uncertainty

PetroSA claims is implementing a turnaround strategy, as approved by its shareholders Central Energy Fund and the Department of Mineral Resources and Energy.

A critical part of the entity’s turnaround plan is to restore its gas loop and liquids refinery in Mossel Bay to full production, following three years of suspended production.

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