OK Zimbabwe Limited has announced a major leadership shake-up, bringing back former executives to steer the company through ongoing operational challenges.
In a statement, the retail giant confirmed the termination of voluntary separation agreements with key executives, including Chief Executive Officer Maxen Phillip Karombo, Chief Financial Officer Milicent Mukobvu, and Supply Chain Director Kossam Nyapwere.
Their departure marks a strategic shift as the company turns to past leadership to stabilize operations.
To navigate the turbulence, OK Zimbabwe has reappointed Willard Zireva as CEO, Valery Lee as CFO, and Mudzingwa Richard Chingaira as Supply Chain Director. The board acknowledged the contributions of the outgoing executives while emphasizing the need for experienced leadership during this critical period.
"The board would like to acknowledge the outgoing executive team for their service through this transitional period," said Company Secretary Margaret Munyuru. "We believe the new appointments will bring stability while the company engages in the process to identify the best way forward."
OK Zimbabwe has faced declining market performance, increased competition, and operational difficulties, leading to the closure of four stores and supply chain disruptions.
The return of Zireva—who previously led the company until his retirement in 2017—alongside other former executives signals an urgent effort to restore stability.
The restructuring comes as the company reassesses its strategy to remain competitive in the country's evolving retail landscape.
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