3 May 2014

Zimbabwe: TM Supermarkets Boss Shown Exit Door

MEIKLES Limited on Friday announced the departure of TM Supermarkets Managing Director Dave Mill from the group in what they termed at "pre-retirement leave with immediate effect".

However, information gathered suggests Mill was shown the door in a management "shake up" which will see other managers being reassigned or leaving the group.

Officials at Meikles said could not comment beyond the cautionary statement issued to shareholders.

A copy of the announcement signed by a Meikles spokesperson read: "Meikles would like to advise our clients, suppliers and stakeholders that the Managing Director of TM Supermarkets, David Mills has assumed pre-retirement leave with immediate effect.

"Mr Mills was due to retire shortly and his pre-retirement leave facilitates an early but orderly leadership transition over the next few months."

TM Supermarkets is part of the retail arm of Meikles Limited, a listed concern on the Zimbabwe Stock Exchange (ZSE). The retailer comprises of a branch network of 50 stores country wide.

"Meikles Limited is currently involved in a careful process of identifying a suitable candidate with the right skills for the position of Managing Director who will lead TM Supermarkets as a preferred supplier and leader in the Food and Grocery Retail market in Zimbabwe," read the statement.

The spokesperson said since establishment in 1978, TM Supermarkets had remained committed to building and maintaining strong relationships with suppliers, customers and all stakeholders.

"We would like to assure our valued suppliers, customers and stakeholders that this leadership transition will strengthen the already existing professional relationship with our suppliers and stakeholders and give real value always to our customers," the company said.

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