CEMENT producer, Lafarge group has appointed Precious Murena-Nyika as the new chief executive (CE) for Large Zimbabwe, replacing Siame Kaulule, who left last month, NewsDay Business has established.
BY FIDELITY MHLANGA
Kaulule, who was at the helm of the company for just a year, left the country to assume a different post at Lafarge group’s operations in South Africa.
He had joined the company from Lafarge Holcim in the United Kingdom where he was general manager for retail.
In an exit memo last month, Kaulule gave credit to the staff for enduring the tough business operating environment in the country.
“Looking back on my time in Zimbabwe we have confronted seemingly insurmountable business challenges daily. I have seen our teams navigate these hurdles and mountains in ways that have not only made Lafarge Cement Zimbabwe a better company but also made all of us far stronger,” Kaulule said.
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Sources close to the developments told NewsDay Business that the new CE announcement was done by visiting Lafarge East and Southern Africa area manager Pierre Deleplanque yesterday at the company’s Harare office.
“Precious Murena-Nyika was yesterday confirmed as the new Lafarge Zimbabwe CE. The announcement was done by Lafarge East and Southern Africa area manager Pierre Deleplanque, who is in the country. Her appointment came at a time there have been calls to have a local CE who fully appreciates the dynamics of the market,” a source said.
Lafarge Cement Zimbabwe confirmed the development. “Lafarge Cement Zimbabwe is pleased to announce the appointment of Mrs Precious Nyika as the compaby’s new Chief Executive Officer with effect from 1 March 2020.Precious takes over from Kaziwe Siame Kaulule who takes on a new challenge in lafarge Cement South Africa after successfully leading the business for over a year,” said the company’s Board Chairman Kumbirayi Katsande.
Before her elevation, Murena-Nyika was director for human resources and communications at Lafarge Cement Zimbabwe. She is the immediate past president for the Institute of People Management of Zimbabwe. She holds a Honours degree in Psychology and Masters in Business Adminstration from the University of Zimbabwe.She also holds a postgraduate diploma in leadership from Harvard business school. Lafarge Cement Zimbabwe is a unit of dual-listed Swiss-based Lafarge Holcim and trades its shares on the Euronext and Swiss stock exchanges.
The company swung to profitability in the six months to June 2019, recording a $2,9 million profit in the reviewed period from a $1,8 million loss in the same period in prior year.
Revenue for the period went up 169% to $87,5 million in the period under review from $32,5 million in the same period in 2018.