Grindrod announces departure of CEO Xolani Mbambo at end of 2025
Xolani Mbambo
Image: File
JSE-listed Grindrod has announced that its Group Chief Executive Officer, Xolani Mbambo, will step down on December 31, 2025.
Mbambo has been with the company for 12 years and is leaving following what the group described as " a period of strong growth, including key concessions in Mozambique and South Africa and the successful repositioning of the business as a leading logistics platform in sub-Saharan Africa".
During his tenure at Grindrod Mbambo expanded its port operations, securing new concessions in the Port of Maputo and Matola, and a 25-year deal for container handling at the Port of Richards Bay.
"Following the implementation of an unrelenting culture of zero harm to our employees, continuous drive for operational excellence, the extension of the concession period of the strategic terminal assets in Mozambique’sPorts of Maputo and Matola, securing Grindrod’s strategic entry into quayside container handling operation in South Africa’s Port of Richards Bay," Grindrod said.
"Through a 25-year concession, the consolidation of ownership of partly owned strategic core assets and the successful divestiture of non-core assets, Grindrod has firmly reinvented itself as an efficientand cost-effective integrated logistics platform in sub-Saharan Africa with a promising growth project pipeline and strong leadership team to execute on it. In light of these achievements, Xolani has decided to pursue the next"
The company added that it has already started the process of securing a suitable replacement Mbambo.
"The Board extends its heartfelt gratitude for Xolani’s dedicated leadership throughout his successful 12-year tenure at Grindrod, where his outstanding track record of consistent delivery on strategy execution was recognised when Grindrod was ranked second in the 2024 Sunday Times Top 100 Companies Awards and wishes Xolani well in his future endeavours," Grindrod said.
mthobisi.nozulela@iol.co.za
IOL Business