Failure of U.S. Venture Gets Two Sasol CEOs Fired

South Africa's Sasol, an integrated energy and chemical company ethanol firm, has fired its co-chief executives Bongani Nqwababa and Stephen Cornell. This follows a forensic investigation into the delays and cost overruns at its U.S.$13-billion Lake Charles Chemicals Project in Louisiana in the U.S., which showed that the project management team reporting to the duo, had "acted inappropriately, demonstrated incompetence and were not transparent".

Photo: Sasol

(file photo)

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