Brighton Gumbo, Business Reporter
BUILDING materials manufacturer, Turnall Holdings Limited has reduced the number of its board members to six from ten following the resignation of eight members last Friday.
In a statement, the group said this was part of its ongoing cost reduction programme.
It said the Rita Likukuma remains board chairperson while Portia Marufu continues as a board member.
The newly appointed board members were tasked to examine every opportunity that will establish the company as the region’s preferred supplier of building and construction products.
“With effect from January 8, 2016, Patrick Chingoka, Chirandu Dhlembelu, Celestine Gadzikwa, Peter Moyo, John Mushayavanhu, James Mutizwa, Kiritkumar Naik, and Linda Sasikwa resigned from the board,” said Turnall.
“Likukuma remains chairperson of the board while Portia Marufu remains board member. Joining them are new appointees Innocent Chinyama, Munyaradzi Gwanzura, Noel Hayes and Manfred Mahari.”
Chinyama is a Zimbabwean citizen who owns AfriAxis Limited, an Africa focused investment firm that structures border transactions among others. Gwanzura is also a Zimbabwean and is an admitted attorney of the High Court of South Africa.
Hayes is a Briton by origin and a retired member of the London Stock Exchange while Mahari, a Zimbabwean by nationality, is a member of the Company’s Audit, Renumeration, Insurance and Investment Committees. “The results of these and other changes will be a further significant reduction in the fixed overhead costs of the business.