HomeNewsZSE drags ex-CEO to court over property

ZSE drags ex-CEO to court over property


THE Zimbabwe Stock Exchange (ZSE) has dragged its former chief executive officer, Alban Chirume, to the High Court seeking an order to compel him to return the organisation’s property following his dismissal from employment in June this year.


The ZSE filed an application to recover the property on September 22, 2017, through its board chairperson Caroline Sandura and the matter is yet to be set down for hearing.

In her founding affidavit Sandura said she had been compelled to file the application after realising that Chirume was reluctant to return a Mercedes Benz E300, laptop probook 450, iPad and other business tools despite being asked to do so.

“It is common cause that even before his dismissal when he was instructed to surrender the company assets, the respondent (Chirume) intimated his refusal to return the assets and has insisted to hold on to them against the decision of the applicant (ZSE) to date.

It is therefore clear that despite demand by the applicant and despite being liable to, the respondent has refused to return the said company properties which rightfully belong to the applicant and for which he no longer has the right to use,” Sandura said.

According to Sandura, Chirume was engaged by the ZSE as its chief executive officer and his contract of employment provided him with possession and use of a motor vehicle and other company properties.

Sandura said at all material times during the duration of the contract; ownership of the said assets remained with the ZSE and at no point was the property transferred to Chirume.

“On April 25, 2017, respondent was suspended without pay and benefits for disciplinary charges which included insubordination and insolence towards the board chairperson, board and board members disputing and disobeying the board’s lawful orders, and for various other non-performance related and other acts of gross misconduct,” Sandura said.

“Following his suspension, a letter was written to him on the 2nd of May 2017 with specific instruction to him that since he was on suspension without pay and benefits he had to surrender the company motor vehicle, laptop and the chief executive’s contract of employment which he kept unlawfully at his house.”

The board chairperson said Chirume allegedly “snubbed the instruction and did not comply with the clear directive to return the company property as instructed” following which additional disciplinary charges of insubordination were preferred against him leading to his dismissal on June 22, 2017.

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