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Diversified manufacturer, Zimplow Holdings Limited, has appointed Vimbayi Nyakudya as its group chief executive officer replacing Mark Hulett.
In a statement the company advised shareholders of Hulett’s departure and immediately announced his successor.
“Pursuant to the above, the board has appointed Mr Vimbayi Nyakudya, the current chief finance officer, as group CEO effective January 1, 2019,” reads the statement.
Nyakudya is a chartered accountant who trained and qualified with KPMG. He is also a holder of a Masters Degree in Business Leadership from Unisa.
“As the group CFO Vimbayi has played a key role in managing the group’s balance sheet, allocating capital to best opportunities and thereby ensuring optimal profitability,” said Zimplow.
It noted that Hulett, who served the firm as CEO for three years, has left the group to pursue his personal business projects.
Zimplow Holdings Limited is a diversified construction, infrastructure and agricultural equipment manufacturer and distributor.
It manufactures and distributes metal fasteners for the mining, construction and agricultural industries.
The company operates in three segments, which include mining and infrastructure, farming and property.
The mining and infrastructure segment includes mining equipment, parts and related services. The mining and infrastructure segment consists of business units, including Barzem and CT Bolts.
The farming segment includes animal drawn equipment, parts and related service, and tractors, tractor drawn equipment, parts and related service.
This segment consists of business units, including Mealie brand, Farmec and Afritrac. The property segment includes property rental and property management.
Bongani Ndlovu