Sasol deputy chief executive Trevor Munday will step down from the company at the end of this year, the petrochemicals group said on Monday.

Munday, who is 57-years-old next month, would leave executive management at the end of the company's current financial year in June 2007. However, due to accumulated leave of six months, he was effectively leaving at the end of this December.

Pat Davies, CEO of Sasol, said that with Nolitha Fakude, Benny Mokaba and Christine Ramon "rapidly and successfully assuming responsibility" for their specific portfolios, he and Munday agreed to Munday's early retirement.

"Trevor's tenure as financial director was highly successful. He also provided skilled and innovative leadership to our global chemicals, corporate affairs and investor relations portfolios over the last five years. I would like to thank Trevor for his commitment and the exceptional contribution he has made to Sasol's success over the years," Davies said.

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