The Central Energy Fund (CEF) said today, it had appointed CEOs to all its four subsidiaries – bringing about management stability after years of instability.
The state-owned CEF board appointed former Centlec boss Ishmael Poolo as its Group CEO.
Pragasen Naidoo is the new CEO at PetroSA, while former BP Southern Africa executive Godfrey Moagi takes over the helm at the Strategic Fuel Fund.
Phindile Masangane takes over as CEO of Petroleum Agency of South Africa – she was previously responsible for clean, renewable and alternative energy projects at the CEF.
The CEF board has also tapped former Westcoal COO as the new COO of African Exploration Mining Finance Corporation.
CEF chairperson, Monde Mnyande said, following the appointment of the new group boards by the Minister of Mineral Resources and Energy, Gwede Mantashe in December 2019, there has been a concerted effort to fast-track a process to fill all vacant CEOs positions across the group.
“The appointment of our CEOs comes at a time when the Group, like all energy companies, faces turbulent times brought by the slump in fuel demand coupled with global oversupply. As a national energy company our response to this volatility must be to safeguard security of energy supply in the country in the long run,” Mnyande said.
