CBZ boss retires

GROUP chief executive officer of CBZ Holdings Mr Never Nyemudzo is now on leave pending his retirement on December 31, 2017. In a statement yesterday, CBZ said Mr Peter Zimunya, who is the managing director of CBZ Bank, will take over as acting CEO with immediate effect. "The CBZ Holdings Limited Board of Directors announces that Never Nyemudzo will be retiring from the Group with effect from 31 December 2017, after three years as Group Chief Executive Officer," said the firm.

"In the meantime and with immediate effect, Never Nyemudzo will proceed on leave and Peter Zimunya will assume the role of Acting Group Chief Executive Officer. Peter Zimunya is currently the Managing Director for CBZ Bank Limited.

"The Board acknowledges Never's leadership and service to the Group, having joined the Group in 2008 as the Group Finance Director and his subsequent appointment as Group Chief Executive Officer in 2014. Never created immense value as he continued with the growth of the Company to its current position of being the leading financial institution in Zimbabwe."

Mr Nyemudzo, who takes a bow three years after taking up the post, replaced former CEO Dr John Mangudya who was appointed Reserve Bank of Zimbabwe Governor on May 1, 2014. He also holds a Bachelor of Accountancy degree from University of Zimbabwe. CBZ Holdings in the country's biggest financial institution by assets.