Story by Stanley James, Business Editor
LISTED retail giant OK Zimbabwe Limited has reappointed former directors to revive the operations of the entity after closing some branches.
In a notice, the retail entity revealed that the current executives of Mr Maxen Karombo who was the chief executive officer, chief financial officer Phillimon Mushosho and Supply Chain director Mr Knox Mupaya have stepped down from their duties.
The long serving executive, Mr Willard Zireva has bounced back as the chief executive officer, Mr Alex Siyavora is taking over as chief finance officer and Mr Muzvidzwa Richard Chingaira as Supply Chain director.
The three have been tasked with steering the group’s turnaround for the next six months as the board looks for permanent replacements.
The retail firm revealed that the former executives will be implementing a restructuring plan to steer the listed firm back to its glory days.
In the past months, OK Zimbabwe has been reeling under challenges in terms of filling shelves with goods.
At a time when the country’s supermarkets are adequately stocked with goods, credited to the growth of the manufacturing sector, central bank authorities have attributed the challenges facing the country’s oldest retailer to mismanagement.
Market watchers say the bouncing back of the executives reflects a commitment by shareholders to restock and maintain the entity’s market share.
