Chibuku maker, National Breweries Plc has announced the resignation of its Managing Director after two years in the role.
“Pursuant to section 3.59 of the LuSE Listing Requirements, the Board of Directors of National Breweries Plc (“the Board”) wishes to announce the resignation of Mr. Ronny Palale as Managing Director of the Company effective 15th January 2020”, read a statement from the company issued by Vongai Chiwaridzo, Company Secretary on 13 January 2020 in Lusaka, Zambia.
Ronny, whose previous role was Head of Trade with British America Tobacco was a short stint of barely 3 months, according to his LinkedIn profile. He spent most of his career with Anheuser-Busch InBev Africa where he held roles of Head of Route to Market and General Manager Execution Channel.
The holder of an MBA from Edinburgh Business School and ACCA from Zambia Centre of Accountancy Studies had been in charge of the company during part of the 15 month following change of control from Zambian Breweries to Delta Corporation. This period saw the company focus on rebuilding skills to support a stand-alone entity. It further saw the aligning of systems, processes, and practices with those of Delta Corporation.
According to the financial year ending 31 March 2019, the company under his stewardship posted a loss after tax of K37.6 million. This was a period when the company struggled with working capital as seen in the increase in sourcing short term financing (bank overdraft of K44.70 million).
The board has immediately announced the appointment of Ronny’s replacement. “Furthermore, the Board wishes to announce the appointment of Mr. Martin Rutendo Makomva as Managing Director of the Company effective 16th January 2020 Mr. Makomva is a Chartered Accountant (Zimbabwe) and holds a Master of Business Leadership from the University of South Africa (UNISA)”, further read the SENS announcement. “Mr Makomva has over thirty years’ experience in the alcoholic beverage and packaging industries of which twenty-three years were at the Managing Director level”.
Despite the short stay at the Chibuku maker, the Board was no doubt thankful for Ronny’s services. “The Board would like to thank Mr Palale for his service and wishes him the best in his future endeavours”. Furthermore, they are upbeat about the new arrival who is also Chairman of Property Definition PVT Limited. “The Board also looks forward to Mr. Martin Rutendo Makomva’s future contribution to the Company as Managing Director”.
