PLATINUM miner Zimplats has been seized with perennial management squabbles resulting in a major shake-up, that saw the demotion of some top managers, Zim Morning Post have learnt.
Zim Morning Post understands that the recent management reshuffle is part of chief executive Alex Mhembere’s succession plan.
“The reshuffle was done recently and it was caused by squabbles and tussle for power by top management.
“The move was done strategically to angle some managers for top positions as Mhembere (Alex) is deliberately grooming his successor,” revealed our source.
In the new set up, managing director Stanley Segula has been seconded to South Africa and a South African professional Tshepo Mazibuko is the new chief operating officer (COO), while chief financial officer(CFO) Stewart Mangoma was re-assigned to business development director.
“It is plain to see that Mangoma’s new assignment is technically a demotion and Segula is being groomed to take over from Mhembere.
“The fissures in management have been visible for years and the latest restructuring exercise is mere confirmation of Mhembere’s succession plan,” added our source.
Zimplats head of corporate affairs Sibusiso Chindove confirmed the re-structuring exercise and could not shed more light on the development preferring to respond to questions via email as per company policy.
Zimplats management is not new to controversy.
In 2010, the platinum miner’s parent company Implats dispatched auditors to Harare to probe gross violations of corporate governance.
Investigations were on allegations of flouting tender procedures, especially on the construction of a multi-million dollar staff residence in Ngezi.
