The Zimbabwe Consolidated Diamond Company has appointed former acting chief executive officer, Mark Mabhudhu as the new substantive chief executive officer, the board chairman has announced.
Mabhudhu’s appointment is with effect from September 21, 2020 and he will be based at the company’s head office. He succeeds Roberto De Pretto whose employment contract was terminated after holding the position in an acting capacity since May 16, 2019.
Mabhudhu was the company’s inaugural chief executive officer but his initial reign ended acrimoniously and saw him being dragged before the courts on allegations of refusing to surrender company property after termination of contract.
Following the latest development, Levi Chiota, who held the position for about three weeks in an acting capacity reverts to acting chief operating officer.
“The board welcomes Mark to his new role and request that all employees give him the necessary support as we move forward to turn around the fortunes of the organisation and stabilise it [and] as we navigate through these difficult times that were compounded by the effects of COVID-19,” the board chairman Wellington Pasipamire told workers in a memo.
Mabhudhu is a metallurgist with over 25 years technical and management experience across the diamond value chain, according to Pasipamire.
He has also worked for Marange Resources as acting chief executive officer in the past.
ZCDC was established in 2015 after government consolidated all diamond operations in Marange to stem loopholes amid claims diamond proceeds were not reaching Treasury coffers.
ZCDC has operations in Chiadzwa and Chimanimani in Manicaland Province. The state controlled enterprise has been haunted by scandals and under-performance since its formation.