Johannesburg – The PetroSA Board is pleased to announce the appointment
of Mr. Pragasen Naidoo as a new Group CEO with effect from the 17th January
2020, subject to transitional arrangement with Central Energy Fund. His
appointment followed rigorous recruitment process to appoint a permanent Group
CEO after the entity has had a number of executives on an acting role since
Prior to his appointment as the PetroSA Group CEO, Mr.
Naidoo, in addition to other roles, served as the Group Chief Operations and
Business Development Officer at the Central Energy Fund (CEF), a holding company
He holds a BSc in Chemical Engineering and an MSc in
Engineering whilst his industry experience spans approximately 18 years in
Human Capital Development and Management, Technology Development and
Engineering, Capital Project Execution, Business Development and Operations.
During this period, Mr. Naidoo also gained exposure to the local and
Commenting on his appointment, PetroSA chairperson, Mr.
Frans Baleni said: “Mr Naidoo’s demonstrable industry experience and acumen
will continue to deliver value to the entity’s shareholders and stakeholders
through good governance, operational excellence, and sustainable growth. We are
confident that he will contribute immensely towards addressing our business’
sustainability challenges, as well as positioning PetroSA for the future”.
The CEF Group Chairperson, Dr Monde Mnyande said; “We
welcome, embrace and fully support the permanent appointment of the PetroSA
Group CEO, Mr. Naidoo. The appointment of Mr. Naidoo could not have come at a
better time, when as a group we have initiated a roadmap to build a solid
foundation for the long term sustainability of the group.
“On behalf of the CEF Board of Directors, we are committed
to work closely with the PetroSA Board and the Group CEO to provide any
requisite support to bring stability, sustainability and growth at PetroSA; the
subsidiary which accounts for 85% of the group revenue”, said Dr Mnyande.
Mr. Baleni also thanked the outgoing interim Group CEO, Mr.
Bongani Siyadini for providing stewardship when the company was going through a