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Business Reporter
PROMINENT businessman, Mr Herbert Nkala, has been appointed chairman of the OK Zimbabwe Limited board.

He replaces, Mr David Lake, who has stepped down from the position with immediate effect.

In a notice yesterday, the Zimbabwe Stock Exchange (ZSE) listed retailing firm said Mr Lake would continue to serve as an independent non-executive director until his retirement on 31 December 2018.

“Following the retirement of David Lake, the board is pleased to announce the election of Mr Herbert Nkala as the new chairman with immediate effect,” said Ok Zimbabwe.

“The board congratulates Herbert Nkala on his election as chairman and wishes him a successful tenure.”

Mr Nkala joined the OK board in 2012. He boasts wide experience as a business leader and has sat and chaired many public and private boards in and outside Zimbabwe.

Mr Nkala is currently group chairman for FBC Holdings Limited. He also chairs the Industrial Development Corporation (IDC) of Zimbabwe and is a board member of Tanganda Tea Company.

Mr Nkala holds a BSc Honours Degree from the University of Wales, United Kingdom, an MBA from the University of Zimbabwe as well as numerous professional qualifications.

OK Zimbabwe has paid tribute to Mr Lake, an experienced lawyer and businessman, for his capable leadership during his term of office.

Mr Lake joined the OK board upon the public listing of the company in 001 and served as chairman for the last nine years.