Harare – OK Zimbabwe Limited has rehired Willard Zireva as Chief Executive Officer to replace Maxen Karombo after economic shocks and operational challenges resulted in the retail giant shutting down several shops.
Zireva comes in with Alex Edgar Siyavora as the new Chief Financial Officer and Muzvidzwa Richard Chingaira as Supply Chain Director.
The outgoing executives are Karombo, Chief Finance Officer, Phillimon Mushosho and Supply Chain Director, Knox Mupaya.
In a notice, OK Zimbabwe Limited company secretary, Margaret Munyuru said operating challenges necessitated the changes.
“The company has been facing operating challenges that have necessitated a comprehensive business review and restructuring aimed at enhancing operational efficiency and driving sustainable growth in a dynamic market,” Munyuru said.
“The Board would like to acknowledge the outgoing Executive team for their service through this challenging period, and welcome back the team reposed with the remit to stabilize and turn business around over the next six months whilst the company engages in the process to identify the executive replacements.”
The retail sector is facing challenges that has resulted in N.Richards and Mohammed Mussa closing down some branches.
Tuckshops have proliferated in central business districts of most urban centred selling groceries in US dollars ditching the local Zimbabwe Gold (ZiG) currency.
Some suppliers have preferred selling their products to tuckshops which pay exclusively in US dollar which is the preferred currency than the ZiG.
Meanwhile, foreign nationals are the kingpins of tuckshops with their main base located at Zindoga shopping centre.
The ‘godfather’ (name withheld) is Rwandese of Tutsi origin and also owns a fleet of kombis where he seems to be immune from traffic cops.
