MIDWEEK REPORTER
HARARE-GIANT RETAILER OK Zimbabwe has gone separate ways with its chief executive officer, Phillip Karombo and has rehired veteran business executive Willard Zireva to steer the company out of the mud.
OK Zimbabwe has been facing operational problems characterized by empty shelves since the festive season and some of the problems have been attributed to poor management hence the board’s action.
Also shown the exit door is finance director, Phillimon Mushosho who has been replaced by former CEO Alex Siyavora and supply chain director, Knox Mupaya also leaves the retailer with Richard Chingaira taking over his post.
The changes are contained in a notice released by company secretary Margaret Munyuru on Wednesday, February 26.
“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,” said Munyuru.
Zireva left OK in 2017 after serving as CEO since 2001 to 2017 when Siyavora took over and left the hot seat for Karombo in 2021.
Siyavora was finance director at OK since 2001 until he was elevated to CEO in 2017 following the departure of Zireva.
The retail sector in the country has been on free fall since the shock devaluation of the ZwG by the Reserve Bank in September 2024 sending markets on a tailspin as all balances in the local currency were reduced by half just like that.
