Harare, (New Ziana) –Retail group OK Zimbabwe Limited has sacked its top executive team and reappointed former chief executive officer Willard Zireva, to resuscitate its faltering operations, an official has said. The retail giant was forced to shut down several branches around the country as the sector found the going tough with Ok Zimbabwe and other players including N Richards and Spar blaming sub economic prices arising out of exchange rate distortions.

In a brief statement to stakeholders, OK Zimbabwe Limited company secretary Margaret Munyuru said the operating challenges that the retail group has been facing have necessitated a comprehensive business review and restructuring aimed at enhancing operational efficiency and driving sustainable growth. She said the company had concluded the voluntary separation agreements with the chief executive officer, Maxen Philip Karombo, chief financial officer Phillimon Mushosho and supply chain director, Knox Mupaya.

In the trio’s stead, the company appointed what it described ‘as a team of experienced retailers’ headed by former group CEO Zireva, with Alex Siyavora as chief financial officer and Richard Muzvidzwa as the supply chain director. Zireva’s team is expected to assist the board with the restructuring and turnaround of the company over a six months period.

“The Board would like to acknowledge the outgoing Executive team for their service through this challenging period, and to welcome back the team reposed with the remit to stabilize and turn the business around over the next six months whilst the Company engages in the process to identify the executive replacements.

New Ziana