POSB elevates CFO Changunda to chief executive

Harare – THE People’s Own Savings Bank (POSB) has elevated the chief financial officer (CFO) Garanaishe Changunda to the position of chief executive in replacement of Admore Kandhlela who left the bank last October to pursue personal interests , Express Mail Zim can report.

The appointment is with effect from February 1.

This development was announced Monday by the board in a statement.

“The People’s Own Savings Bank (POSB) board, with the approval of the Minister of Finance and Economic Development, is pleased to announce that the board has appointed Garainashe Changunda as the substantive chief executive officer of the bank with effect from the 1st of February 2023,” read part of the board’s statement.

Changunda has a decorated track record and impressive resume with more than 25 years of experience in strategic and operational performance management in several banking institutions.

He is s chartered accountant and a member in good standing of the Public Accounts and Auditors board and the Institute of Chartered Accountants of Zimbabwe.

He also boasts of several other academic credentials bordered in the faculty of finance , corporate governance and accounts.

His predecessor Kandhlela ably served the institution for two decades.

POSB made emphasis that Changunda is expected to maintain the sustainable shareholder value through good corporate governance,cost optimisation,and sound risk management .