By Beaven Dhliwayo.
Harare. (News of The South) – Zimbabwe Stock Exchange-listed diversified conglomerate TSL on Tuesday said the Group’s Chief Executive Officer, Washington Matsaira will retire from the organisation on April 30, 2018, after five years in the role.
In a statement, TSL Chairman Antony Mandiwanza said, under Matsaira stewardship, the Group recorded solid growth in an otherwise challenging environment.
“Accordingly we envisaged that Matsaira will continue to play his part in supporting the business into the future,” he said.
TSL said following this development, the Board wishes to announce the appointment of Patrick Devenish as successor to Matsaira.
Devenish has previously worked in TSL in various senior management roles over a period spanning 20 years.
He has also spent some 10 years holding senior positions in other companies that are in the agro-sector including Seed Co Limited and Cottco Holdings Limited.
Devenish holds an MBA from the University of Cape Town, Graduate School of Business.
On behalf of the Board of TSL Ltd, Mandiwanza said he wished to express gratitude to Matsaira for his contribution and welcome Devenish into the organisation.
TSL recorded a 75 percent increase in profit after tax to $4.8 million in the full year to December 2017 and declared a dividend of $0.45 per share for the period.
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