The technical and financial success of Oryx GTL, Sasol’s joint-venture operation in Qatar, has demonstrated the commercial viability of our  proprietary technology. Continuous improvement in  reporting and governance Restructuring for effectiveness Acknowledgements  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. 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.  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  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.  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.  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. Hixonia Nyasulu Chairman annual review 2010  •  business review  •  chairman’s statement continued 25