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Starafrica appoints new CEO

12 Aug, 2012 - 22:08 0 Views

The Herald

August 31.
Also leaving is the chief operating officer Mr Tendai Masawi. The two have served the company for a combined 53 years.
Dr Mushiri took early retirement from Delta Corporation Ltd in December last year after an illustrious career spanning 31 years in various senior executive positions including packaging manager, production manager and rising to become general manager at the then National Breweries in 1992.
He was appointed managing director of Food and Industrial Processors in 1994 and subsequently director of group procurement at Delta Corporation in 1998, before becoming managing director of Chibuku Breweries in 2000.
In the 11 years between 2000 and 2011, Dr Mushiri was an executive director at Delta Corporation.
Since his retirement, Dr Mushiri has been leading the turnaround strategy at Afdis Ltd, completing his mandate at the end of July 2012.
Dr Mushiri holds a PhD in Clinical Biochemistry from the University of London and has attended various senior executive programmes including the London Business School Senior Executive Programme.
He is an accredited resource for Mandel Training Centre, where he is a lecturer in strategic manage-ment.
Dr Mushiri joins starafricacorporation Limited at a time when the sugar producing company is struggling to turn a profit and has been registering losses since the introduction of the multi-currency regime in 2009.
The company’s poor run is despite the fact that the group managed to complete a recapitalisation exercise in 2010 of US$20 million through a rights issue.
As a result, the company has been restructuring its operations by selling off its non-core subsidiaries.
It has so far disposed of Wes Bev, Red Star Wholesalers, R Chitrin and Company Zimbabwe, Marathon Tyres and Arthur Garden Engineering.
The restructuring has seen the company focusing on its core business — sugar refining, packaging and logistics. Its key business units include Gold Star Sugars, a sugar manufacturer, Country Choice Foods, which makes caster sugar, icing sugar and syrups.
Other business operations include property company Silver Star Properties, transport firm Bluestar Logistics, packaging firms Highfield Bag and Polyfilm Plastics.
Starafrica is expected to return to profitability by full year 2013.

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