Business / Companies
NMB CEO resigns due to ill health
27 Oct 2014 at 09:57hrs | Views
The Board of Directors of NMBZ Holdings has announced that Mr James A. Mushore will step down as Chief Executive Officer and Director of NMBZ Holdings and NMB Bank due to ill health, effective 31 October 2014.
There are widespread rumours which link the resignation to demands from shareholders over the high non performing loans.
Mr Mushore served as the Group Chief Executive Officer since he re-joined NMBZ Holdings in 2010. He is a founder member and former Deputy Managing Director of NMB Bank where he headed Corporate Finance, Information Technology, and Internal Audit and Marketing departments until February 2004.
Mr Tendayi Mundawarara, Chairman of the NMBZ Board of Directors, said: "We are tremendously saddened by the resignation of Mr Mushore as CEO and Director of NMBZ Holdings and NMB Bank. However, being aware of his medical condition, we have to respect his decision. James played a pivotal role in the simultaneous listing of NMBZ Holdings Limited on both the Zimbabwe and London Stock Exchanges. His passion for excellence is evident in the NMB level of service. The Board and staff of NMBZ Holdings and NMB Bank wish him a speedy recovery and all the best for the future."
Mr Benefit Was haya, Managing Director of NMB Bank, will serve as Acting Chief Executive Of ficer with effect from 1 November 2014.
There are widespread rumours which link the resignation to demands from shareholders over the high non performing loans.
Mr Mushore served as the Group Chief Executive Officer since he re-joined NMBZ Holdings in 2010. He is a founder member and former Deputy Managing Director of NMB Bank where he headed Corporate Finance, Information Technology, and Internal Audit and Marketing departments until February 2004.
Mr Tendayi Mundawarara, Chairman of the NMBZ Board of Directors, said: "We are tremendously saddened by the resignation of Mr Mushore as CEO and Director of NMBZ Holdings and NMB Bank. However, being aware of his medical condition, we have to respect his decision. James played a pivotal role in the simultaneous listing of NMBZ Holdings Limited on both the Zimbabwe and London Stock Exchanges. His passion for excellence is evident in the NMB level of service. The Board and staff of NMBZ Holdings and NMB Bank wish him a speedy recovery and all the best for the future."
Mr Benefit Was haya, Managing Director of NMB Bank, will serve as Acting Chief Executive Of ficer with effect from 1 November 2014.
Source - Byo24News
