Sasol Limited Integrated Report 2021 - Book - Page 36
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Solid governance instilling confidence (CONTINUED)
Board effectiveness
Newly appointed Directors are apprised of Sasol’s business, their duties and responsibilities as Directors and are given the opportunity to visit Sasol’s plants
and operations. Unfortunately no plant visits could be conducted during the year due to COVID-19 restrictions. The development of industry and Group knowledge
is a continuous process and Directors are briefed on legal developments and changes in the risk and general business environment on an ongoing basis.
The Board, its Committees and its Directors are entitled to seek independent professional advice concerning the Company’s affairs and to gain access to any information
they may require in discharging their duties as Directors.
An external evaluation of the effectiveness and performance of the Board, its Committees, the Directors and the Chairman
was conducted by a global management and leadership advisory firm.
Approach to Sasol Board effectiveness
PHASE I – Kick-off
1.
Specific areas of focus agreed.
2. Development of customised survey,
which included one-on-one interviews.
PHASE III – Analysis and findings
Questionnaire shared with Directors ahead of
one-on-one interviews.
1.
2. Confidential input from each Director and
select management team members obtained
from survey.
Analysis of survey and interview results and
summary findings.
2. Presentation of preliminary summary of
general observations and conclusions to
Nomination and Governance Committee and
facilitate discussion.
3. Presentation of final summary of general
observations and recommendations to
the Board.
Customised Board
evaluation framework
Creating an ethical culture and collective perspective is essential.
Our Directors must:
• have strong values, ethics and integrity;
• foster unity and commitment;
• follow a risk-based approach;
• facilitate open and frank communication with management;
• have meaningful discussions/ask critical questions; and
• not dominate discussions.
Effective and ethical leaders complement and reinforce each other. By setting an
example of doing business responsibly, Directors demonstrate their continued
commitment to Sasol’s values.
PHASE II – Data collection
1.
Skills and experience of our Board
Focus on processes
and behaviours
Review of feedback
to Board
Our Board has the following skills and expertise
(% of Directors):
Chemicals
38
Engineering
38
Capital projects
38
Sales and
manufacturing
38
Oil and gas and
upstream business
38
Finance
63
50
Mergers and
acquisitions
Public policy and
regulatory
Conclusion
It was concluded that the Board is effective and we are satisfied that the evaluation process is contributing to the improvement of the Board’s performance and
effectiveness.
The following matters were identified as key considerations going forward, and will be addressed and/or implemented during the 2022 financial year:
The identification of key skills
and competencies that would be
required for Future Sasol.
Determining the ideal size for the
Board, given the key skillsets and
competencies identified, taking
into account, among other factors,
Sasol’s international footprint
and complexity.
Meeting mix, frequency, team
dynamics and culture – personal
interaction has been severely
constrained by the COVID-19
pandemic.
Refresh Board documents –
quantity and focus of material.
The Company Secretary
The effective functioning of the Board is facilitated and supported by the Company Secretary. Ms Lucy Mokoka resigned and Ms Michelle du Toit was appointed as the
Group Company Secretary of Sasol Limited with effect from 1 January 2021 in accordance with the Companies Act. She is not a Director of Sasol.
Having considered the competence, qualifications and experience of Ms du Toit, the Board is satisfied that she is competent and has the appropriate qualifications and
experience to serve as the Company Secretary. The Company Secretary provides a central source of guidance and support to the Board on matters of good governance
and changes in legislation while maintaining an arm’s length relationship with the Board and the Directors.
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Sasol Integrated Report 2021
Legal and
compliance
Human resources
and remuneration
Social, SHE and
sustainability
57
44
50
44
63
100
Strategy and risk
Global experience
88