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in a number of forums for technical cooperation both in South Africa and internationally. I am encouraged by the level of engagement and willingness to collaborate demonstrated by a number of industry players in addressing these pressing issues. The holistic solutions required to address the twin challenges of development and environmental sustainability will only be found through the cooperation of all role players. 

## Restructuring for effectiveness 

In May 2010, the Sasol board agreed on a number of changes to the group executive committee (GEC), the details of which are provided in the chief executive’s report. I congratulate those GEC members appointed to new roles and wish them well with the challenges that lie ahead. 

In addition, the board agreed that Pat Davies, who will soon reach Sasol retirement age, should extend his tenure as chief executive for another year. This is in the best interests of the company. We have, in the meantime, initiated a comprehensive search programme both internally and externally, as well as locally and internationally, for his successor. 

## Continuous improvement in reporting and governance 

The board has considered and endorsed the King Code of Governance Principles for South Africa 2009 (King III) issued by the Institute of Directors (Southern Africa) in September 2009. We are working towards meeting the revised governance principles and recommended practices introduced by King III. This is refl ected, among other improvements, in this annual review which incorporates many of the recommendations for integrated reporting. 

During the year, we completed a thorough review of all aspects of our compliance with competition legislation. This refl ects the continued engagement between the board and the executive management of the company to ensure that the highest standards of good governance are maintained. 

## Acknowledgements 

During the year, Benny Mokaba resigned as executive director. On behalf of the board, I wish him well in his future endeavours. I also extend a warm welcome to Colin Beggs and Greg Lewin who joined the board as non-executive 

directors. Their appointments further strengthen the board. 

I would like to thank the non-executive directors of the board whose wide range of experience, as well as their depth of knowledge and skill, has proved invaluable during these turbulent times. 

Finally, I commend Pat Davies and his executive management team for the decisive leadership they continue to show, and which is evident in the results the company has achieved. 

As the Sasol group nears the auspicious milestone of its 60th anniversary, I believe that the group is well positioned, with a fi rm fi nancial foundation, compelling growth prospects and a strong commitment to sustainable development. 

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Hixonia Nyasulu Chairman 

