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Michael Makuza, Business Reporter
AXIA Corporation Limited has announced the appointment of Mr Ray Munyaradzi Rambanapasi as its new group chief executive officer, replacing Mr John Koumides who retired last month after serving in that capacity since April 2016.
In a public notice, the Zimbabwe Stock Exchange (ZSE)-the listed company said Mr Rambanapasi’s appointment was with effect from January 1, 2023.
ZIMBABWE Stock Exchange (ZSE)
“The board of Axia Corporation Limited wishes to announce the appointment of the group chief executive officer Mr Ray Munyaradzi Rambanapasi, with effect from 1 January 2023,” read the notice.
Mr Rambanapasi has risen from being group finance director, a position he held since the establishment of Axia Corporation Limited in April 2016, gaining significant knowledge and understanding of the group’s business operations.
The group has commended his focus on growing shareholder value and positioning the group for success saying this will prove instrumental in the furtherance of their vision.
Mr Rambanapasi is a chartered accountant, experienced in financial analysis, financial control and reporting, corporate finance, and internal control.
He is a holder of a Masters in Business Administration from the University of Cape Town Business School.
“The board management and staff extend our warm congratulations to Ray and wish him the greatest success in his new role,” said the group.
Meanwhile, the group has also commended Mr Koumides for overseeing the company’s unbundling process from Innscor Africa Limited.
Innscor Africa Limited
Under his leadership, the group has grown to become the market leader in the specialty retail and distribution sector; reaffirming its commitment to creating value by providing high-quality consumer and durable goods in Zimbabwe and the region.
The group has also commended him for playing a leading role in the growth of the group during his tenure, ensuring that their extensive knowledge of the African business environment, particularly Zimbabwe, Zambia, and Malawi helped them to meet their customers and beneficiaries at their point of need.
“The board would like to extend its most sincere appreciation to John for his invaluable contribution to the group and wish him well in the new journey ahead,” reads the notice.
derick.khumalo