The recent exit of two top directors within one month is raising questions on what is really happening at Zambia’s top Agri business company, Zambeef. The company within the month of February has just lost two key directors, who between them were the erstwhile key staff leading the management team.
Effective February 4, the company announced that its long serving Executive Director and Board Member, Yusuf Koya had resigned from all Group Companies. Koya had served the integrated Agro company for over 13 years, having joined Zambeef as Group General Manager in May 2005.
A few days later, on 12 February, the company announced the resignation of Craig Harris as Chief Financial Officer – CFO, of Zambeef Products PLC and all Group Companies, this time with with immediate effect. On Koya’s announcement, the board chairman, Dr. Jacob Mwanza who is former Bank of Zambia Governor had stated that he would remain and serve the company, without specifying the exact role he would play
In a stock market brief seen by the Zambian Business Times – ZBT, the Zambeef Board announced the appointment of Walter Roodt to the Board of Zambeef. Walter is currently the Deputy Managing Director the CEO designated once the incumbent (Francis Grogan) retires at the end of 2019.
Zambeef Chairman, Dr Jacob Mwanza stated that Koya has been a valued member of Zambeef for many years, “I would like to thank him for the tremendous contribution that he has made to Zambeef since he joined the Company almost 14 years ago. Koya has played and continues to play a valuable role in supporting the growth of Zambeef through his vast knowledge and experience of banking and corporate finance.”
Koya is credited for his work ethic and having contributed to the growth and development of the Company. He is also credited with overseeing the stock exchange listing in London and that he was instrumental in successfully implementing a significant number of corporate transactions as well as successfully raising debt finance of over USD100 million over the last 14 years.
On Harris, Dr. Mwanza stated that “the Board wishes to thank Craig for his dedication and contribution to the company since his appointment in 2012 and wishes well in his future endeavours.”
Zambeef Group is one of the largest integrated cold chain food producers in Zambia. The company is involved in the production, processing, distribution and retailing of beef, chicken, pork, milk, eggs, dairy products, fish, flour and stock feed.
