HARARE – British American Tobacco Zimbabwe (BATZ) has appointed South African Kimesh Naidoo as its new managing director.
Naidoo takes over from Clara Mlambo who stepped down this year to join a regional telecoms company.
Well-placed sources at the ZSE-listed company told The Anchor that Naidoo was appointed after all due processes were followed.
Efforts to get a comment from BAT Zimbabwe chairman Lovemore Manatsa were fruitless
Naidoo is a qualified chartered accountant with the South African Institute of Chatered Accountants who’s had working experience at AB Inbev (former SabMiller).
Naidoo comes in an operating environment characterised by increased inflationary pressures and waning demand. Foreign currency shortages have restricted the group’s capacity to supply its premier brand, Dunhill. The erosion of real disposable income has also affected the consumer uptake of its value brands. Worse still, the group is facing growing competition in both market segments from new brands that are offering competitive prices.