ARISTON Holdings chief executive officer Leon Nortier is exiting the agricultural group amid an ongoing board and executive overhaul as the firm steps up efforts to return to profitability.
The leadership changes come as the company battles persistent losses, liquidity constraints and operational pressures, prompting a strategic reset aimed at restoring profitability and strengthening governance.
Nortier’s departure marks the second major executive exit in just over a year, following the resignation of former finance director Acquilina Chinamo on April 2, 2025, after nearly a decade in the role.
Nortier assumed the CEO position on March 1, 2024.
The leadership changes come at a time when Ariston continues to face financial headwinds. The group narrowed its loss of US$3,13 million for the financial year ended September 30, 2025, from the US$4,28 million loss recorded in 2024.
“I can’t comment too much on the issue, but I am exiting the group,” Nortier told NewsDay Business.
Keep Reading
- High costs hold back Ariston
- High costs hold back Ariston
- ‘Zim has capacity to produce 12 tonnes macadamia nuts per hectare’
- Ariston records a 21% drop in tea production volumes
“I am satisfied with the service I provided to AHL over the past few years and happy to have overseen a strategic turnaround. Painful and important decisions had to be made in the process, but at the end of the day, the product is perfect. I leave a happy man as I look forward to new challenges.”
Ariston’s losses have been driven by liquidity pressures stemming from historical operating losses, adverse climatic conditions affecting agricultural output, high input costs and an asset base largely composed of illiquid assets.
The company has also undergone significant board changes over the past year.
Former chairperson Alex Crispen Jongwe retired on July 28, 2025, after serving the group for more than a decade in various capacities. He was replaced by Michael Allan Bailey, an agribusiness expert with four decades
of experience in project development and implementation across Africa.
Board member Innocent Chagonda resigned on July 25, 2025, after 14 years with the company, while Paul Timothy Spear stepped down as a non-executive director on October 14, 2025, after one year on the board.
The board later strengthened its governance structure with the appointment of new directors, including Charity Murandu, Tendai Mupfumira and Josephine Takundwa, who joined between November 2025 and March this year.
Murandu brings more than 20 years of board and executive leadership experience across sectors such as agriculture, telecommunications and financial services.
Mupfumira has 19 years of experience in the UK and South African financial services sectors, focusing on long-term planning, capital allocation and board-level strategy.
Takundwa is a seasoned entrepreneur with over two decades of experience in technology and agribusiness and serves as deputy president of the Zimbabwe National Chamber of Commerce.
Despite the leadership shake-up, Ariston says it remains focused on repositioning the business.
“The group will continue to focus on production efficiencies, cost containment, and quality improvements to support operational recovery and enhance shareholder value,” the board said.
However, the company acknowledged that it remains under financial strain.
“The group’s results have been prepared on a going concern basis. As disclosed in the audited financial statements, the group has incurred losses and depends on continued operational recovery and
funding support to meet its obligations.”