THE suspended CEO of South African coal producer Exxaro Resources resigned over the handling of a probe into allegations over her conduct, according to a report by Bloomberg News on Thursday.
Nombasa Tsengwa submitted her resignation in a February 5 letter in which she said questioned the way the investigation was conducted. She said the probe demonstrated that there was “a predetermined outcome, which I refuse to subject myself further to”.
The company accepted her move and will start an expedited process to appoint a new CEO, Chairman Geoffrey Qhena said in a statement on Thursday, adding that Exxaro finance director Riaan Koppeschaar would remain as acting chief.
The company had placed her on precautionary suspension over claims related to “workplace conduct and governance practice” and appointed law firm ENS to undertake an independent investigation, it said in December.
In addition to accusations of bullying, Tsengwa received a charge sheet that accused her of conflict of interest and breaches of duty of good faith, she said in the letter.
Tsengwa took over as Exxaro’s first woman CEO in August 2022 after heading its coal business. The Minerals Council of South Africa elected her as its president in June.
The resignation comes as Exxaro looks to further diversify away from coal, said Bloomberg News. After a failed attempt to buy a copper mine, the company is considering investing in manganese. It has discussed the potential acquisition of the Tshipi Borwa mine, people familiar with the matter said in December.
