OK Zimbabwe, one of the country’s oldest retail chains with over 75 years in business, has announced a major leadership shake-up as it battles a severe operational crisis.
The board has reappointed Willard Zireva as Chief Executive Officer (CEO), a seasoned retail executive who previously led the company from 2001 to 2017.
The leadership changes come as OK Zimbabwe has been struggling over the past six months, with widespread stock shortages leaving many of its stores with empty shelves.
Rivals such as Pick n Pay and Spar have managed to keep their stores well-stocked despite Zimbabwe’s ongoing economic hardships, raising concerns about OK’s management strategies.
The crisis forced the closure of several branches, including OK Chitungwiza Town Complex and OK Kuwadzana, which reportedly had no stock left to operate.
The board’s decision to remove the outgoing executive team, led by CEO Maxen Phillip Karombo, was a necessary move to stabilize the company.
Karombo, along with Chief Financial Officer Phillimon Mushosho and Supply Chain Director Knox Mupaya, reached voluntary separation agreements, making way for Zireva’s return.
A Company in Need of a Turnaround
Under Zireva’s previous tenure, OK Zimbabwe experienced significant growth and expansion, including listing on the Zimbabwe Stock Exchange.
However, he now faces a daunting task of reviving a company that has lost its competitive edge.
The retailer has come under fire for questionable business decisions, including the acquisition of Food Lovers Market, which directly competes with its Bon Marché franchise that caters to higher-income consumers.
Additionally, its venture into the pharmacy business was seen as a misstep, diverting focus from its core grocery retail operations.
To assist with the restructuring, the board has also appointed Alex Edgar Siyavora as Chief Financial Officer and Muzvidzwa Richard Chingaira as Supply Chain Director.
This team has been tasked with stabilizing operations over the next six months while the company seeks long-term executive replacements.
What’s Next for OK Zimbabwe?
Zireva’s return signals a strategic effort to restore confidence in the brand and bring back operational efficiency.
The immediate priority will be restocking shelves, improving supply chain management, and regaining customer trust.
Whether the veteran executive can turn the tide remains to be seen, but with OK Zimbabwe now a shadow of its former self, the stakes couldn’t be higher.
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