ARISTON Holdings Limited has appointed Farai Madziva as chief executive officer (CEO), replacing Leon Nortier, who left the group on April 1, 2026, as part of a broader leadership shake-up at the agricultural concern.
Nortier’s departure, which NewsDay Business exclusively reported earlier this week, marks the second high-profile managerial exit in just over a year, after former finance director Acquilina Chinamo resigned in April 2025, ending a nearly decade-long tenure with the group.
The leadership changes come as Ariston intensifies its turnaround and capital-raising programme amid sustained financial losses, operational restructuring and production challenges driven by adverse weather conditions and rising input costs.
In a statement, the board said the transition “marks a decisive step as the company enters the final phase of its turnaround and capital-raising programme,” adding that operations and strategic initiatives will continue uninterrupted. It also thanked Nortier for his contribution and wished him success in his future endeavours.
Madziva brings more than 25 years of international experience in agriculture, agronomy and horticulture across Africa, Europe and North America.
The company said his expertise would support its operational and strategic objectives as it seeks recovery.
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Ariston remains under pressure, posting a US$3,13 million loss for the year ended September 30, 2025, an improvement from a US$4,28 million loss in 2024.
The losses were driven by liquidity constraints, adverse climatic conditions affecting macadamia and tea production, elevated input costs, and a largely illiquid asset base.
The company has also undergone significant board restructuring, with the exit of chairperson Alex Crispen Jongwe and the resignations of Innocent Chagonda and Paul Timothy Spear.
Michael Allan Bailey has since been appointed chairperson, while Charity J Murandu, Tendai Mupfumira and Josephine Takundwa joined the board between November 2025 and March 2026.
For the quarter ended December 31, 2025, Ariston reported a 58% decline in revenue, largely due to weather-related disruptions and restructuring.
Tea sales fell 67% to 125 tonnes, while macadamia volumes dropped 19% to 64 tonnes compared to the prior period.
The company said early summer heat and heavy rains across Chipinge slowed harvesting activities but improved soil moisture, supporting long-term crop development.
Ariston said conditions have since normalised, with tea estates returning to regular cycles and macadamia orchards showing promising nut set ahead of the March harvest.
Over 250 hectares of row crops have been planted this season, with early assessments indicating strong yield potential expected to support future revenue diversification and margin resilience.