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Zambeef Products PLC on Wednesday promoted its Chief Financial Officer Faith Mukutu to chief executive, effective from July 1.
Mukutu will succeed Walter Roodt, who has been CEO of the Zambia-based cold chain foods and retail company since January 2020.
Roodt will continue full time with Zambeef focusing on strategic projects and livestock. He will also remain as an executive director of the company.
Mukutu joined the company in September 2019 as CFO.
Zambeef said that Mukutu's appointment ‘represents the confidence the board has in her ability to steer the business through the new phase of intended expansion.’
Earlier this month, Zambeef announced plans for its $100 million expansion strategy over the next three to five years.
The board has begun the search for a new CFO.
Chair Michael Mundashi said: ‘The board is confident that Faith's combination of financial aptitude, operational skill, strategic flair and capital markets experience is fundamental to delivering the strategic imperatives the company has embarked on.’
Shares in Zambeef were untraded at 8.45 pence each in London on Wednesday afternoon.
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