Heir to the throne?….John Moxon’s son Matthew appointed Meikles Limited acting chief exec

Harare -The transformer of Meikles Limited into one of the country’s leading congrolomates John Moxon’s son Matthew has been appointed acting chief executive (CE) ,Express Mail Zim can report.

This follows the booting out of the CE Malcolm Mycrof wo was trailed by a litany of misconduct including racism, foreign currency externalisation, unfair salary practisces among other allegations .

The announcement was made by company secretary Thabani Mpofu Monday.

The writing was on the wall following an expose’ of Mycroft’s alleged misconduct by reputable online publication Nehanda Radio last week .

In his statement, Mpofu said the Board of Directors appointed Matthew John Stewart Moxon in acting capacity pending the selection of a substantive .

Wrote Mpofu:

“Shareholders are hereby advised that Meikles Limited has experienced changes in its executive structure. As of 2 October 2024. Mr Malcolm Mycroft vacated the position of Chief Executive Officer of Meikles Limited.

“He remains the Managing Director of TM Supermarkets (Private) Limited, a subsidiary of Meikles Limited,” Mpofu said in a statement.

He added that the Board of Directors appointed Matthew John Stewart Moxon, as Acting Chief Executive Officer, October 4 2024 until a substantive Chief Executive Officer is appointed.

He stated :

“Matthew Moxon has a strong academic foundation and experience in retail and property management. He holds a Bachelor of Arts in Political Science and History from Stellenbosch University, a Bachelor of Laws from the University of Cape Town.

“He recently completed his Master of Business Administration (MBA) at the University of Cape Town’s Graduate School of Business.”

Business analysts who spoke to Express Mail Zim Business propounded that Mycroft’s alleged misconduct served as an an impetus to a possible family succession programme considering John (Moxon)’s advanced age

“It looks like this Mycroft character’s misbehaviour came as a blessing in disguise for the Moxon family’succesaion programmed that started around 2022 when he was appointed a non -executive director and managing director of the group’s tea production and property units,Tanganda Tea and Thomas Meikles properties.

“However, I respect John for choosing to use meritocracy over nepotism.

“Matthew deserves any leadership role even at global level .

“He is a brilliant technocrat who has had an intimate relationship with the diversified business empire and posted profits under his eye, so well it’s a good move because if allegations against Mycroft holds water, he was on a mission to enrich himself , externalising forex and at the same time technically bleeding Treasury,” opined a South African based business analyst who preffered anonymity.

Meanwhile, Moxon (John) is a prominent figure in Zimbabwe’s business landscape, in 2023 his market value of his stake in the leading conglomerates surged by $31,48 billion (US$97,6 million) throughout 2023 — this further solidified his position as one of Zimbabwe’s richest businessmen.

Founded in 1894 by Thomas Meikle, Meikles Limited has interests in hotels, retail, supermarkets, agriculture, and financial services.

The group includes renowned brands like Victoria Falls Hotel, TM Supermarkets, Meikles Stores, Meikles Centar Mining, and Tanganda Tea Company.

It’s on record that Moxon played a pivotal role in transforming Meikles Limited into one of Zimbabwe’s leading conglomerates and owns 10,8-percent stake in the group, equivalent to 27,933,226 shares — this stake makes him one of Zimbabwe’s leading investors.