PetroSA board suspends CEO Xolile Sizani
The board of state-owned oil company PetroSA has suspended group chief executive officer Xolile Sizani just eight months after his appointment.
In a statement released on Thursday afternoon, the board said Sizani had been recused from his duties pending the outcome of an ongoing investigation.
No further details were given.
The financially strained entity announced the appointment of Mmete Fusi as acting GCEO.
“PetroSA has appointed Mr Mmete Fusi as the acting group chief executive officer effective immediately. Mr Fusi has vast leadership experience and knowledge of the continent’s minerals resources, oil and gas, ports and railways infrastructure,” the company said.
Fusi is the former CEO of Transnet International Holdings.
PetroSA appoints Acting Group Chief Executive Officer pic.twitter.com/tdYuHbmqAr
— The Petroleum Oil and Gas Corporation of SA (@petrosa_comms) October 17, 2024
According to his profile on the Department of Minerals and Energy, before joining Transnet in 2008, Fusi spent more than 18 years working as a process engineer and a mineral economist in South Africa. He was involved in several mineral policy formulation and strategies for South Africa and SADC.
He holds a BSc in Chemical Engineering, an MBA, and a Harvard Executive Programme on Financing Infrastructure in a Market Economy.
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