Nombasa Tsengwa quits as Exxaro CEO
Mining and renewable energy company Exxaro Resources has announced the resignation of its chief executive officer Nombasa Tsengwa.
Tsengwa was placed on precautionary suspension in December pending the outcome of a probe into allegations relating to governance and conduct in the workplace.
The company has announced its Finance Director Riaan Koppeschaar will continue acting in Tsengwa’s position
In a statement issued on Thursday afternoon, the JSE-listed company confirmed Tsengwa had resigned as CEO and board member – with immediate effect.
Chairman of Exxaro, Geoffrey Qhena said they accepted Tsengwa’s resignation.
“We have accepted the resignation of Dr Tsengwa. The board thanks Dr Tsengwa for her years of service and wishes her all the best in her future endeavours.”
News24 has reported that, in her resignation letter, Tsengwa said she had received a charge sheet outlining accusations and charges of conflict of interest and breach of duty of good faith linked to companies owned by her late boyfriend.
While its statement is silent on the details of the wrangle between itself and Tsengwa, Exxaro said it would expedite the process of finding her replacement.
“We will initiate an expedited process to identify and appoint a new CEO who will continue to drive growth, excellence, and innovation within our business. The Board and management team will continue to driveExxaro’s strategy of maximising the value of its current assets and continuing its measured and responsible transition into a diversified minerals and renewable energy solutions business that will thrive in a low-carbon future,” Qhena added.
Tsengwa lost her urgent bid to fast-track her hearing following her suspension after she approached the High Court in Pretoria.
Tsengwa began her career at Exxaro in 2003 and rose through the ranks until she was appointed CEO in 2021.
She was appointed as president of the Minerals Council South Africa in June 2024.
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