Did Expeditors change its CEO?
Yes, Exxaro Resources, one of South Africa’s largest black-empowered resource companies, announced the sudden resignation of its Chief Executive Officer, Mxolisi Mgojo, in late 2021. The resignation was confirmed to be effective immediately, which took the market and industry analysts by surprise. The board of directors appointed Nombasa Tsengwa, who had been leading the coal business, as the new CEO following this unexpected leadership gap. The company stated that the change was part of a strategic shift in executive direction, but the abruptness of the departure led to significant speculation in the financial press regarding internal governance and the future direction of the firm's transition away from traditional coal reliance toward renewable energy and diversified mineral resources.
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