Exxaro’s Tsengwa to Become Miner’s First Woman CEO in 2023

(Bloomberg) -- Exxaro Resources Ltd., the South African miner that’s invested in clean energy, has designated coal head Nombasa Tsengwa to take over as chief executive officer in two years.

Tsengwa will become the first female head of Exxaro when CEO Mxolisi Mgojo retires in May 2023, the company said Thursday in a results statement. Her 18 years of experience includes various management roles at both Kumba Iron Ore Ltd. and Exxaro where she rose to managing director of minerals.

Women at Exxaro account for more than 30% of high-level positions compared with about 12% in South Africa’s mining industry, according to Tsengwa. The key to improvement is to “make sure there’s a very deliberate process” from fair pay to skills development, she said in an interview.

Exxaro has diversified from a coal company that stocks the state-owned power utility’s biggest supplier, to adding clean energy units including Cennergi Pty Ltd.

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