CEF appoints new interim PetroSA board

The Central Energy Fund (CEF) has appointed a new interim board at embattled State-owned oil and gas company PetroSA, effective July 5.

Former South African Farmers Development Agency MD Nhlanhla Gumede has been appointed chairperson, succeeding former interim chairperson Wilfred Ngubane.

The CEF has also appointed Leanne Williams, Quentin Eister, Puleng Kwele, Boy Ngubo, Dr Nomvuselelo Songelwa, Sepheu Masemola and Mthozami Xiphu to the board.

Last month, the CEF refuted claims that four of the six remaining board members of PetroSA had tendered their resignations.

Media reports stated that the alleged resignations had came after CEF chairperson Luvo Makasi, in a letter, asked the PetroSA board members to resign with immediate effect, or give oral representations at the entity’s yearly general meeting as to why they should remain in their positions.

“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,” the CEF said in a statement on Thursday regarding the new appointments.

It said that the new team would bring relevant industry experience and strategic acumen, which would support the strategy to deliver value to the entity’s stakeholders through good governance, operational excellence and continued growth.