COTTCO Gets New Boss
4 September 2016
COTTCO has appointed Mr Pius Manamike as the new Acting Managing Director after the suspension of Engineer Chris Murove last week, a move which has riled some of the stakeholders in the cotton industry.
Mr Manamike’s appointment comes a day after the suspension of Engineer Murove over allegations of misappropriating US$40.
The decision by the Cecilia Paradza led board did not go down well with stakeholders in the industry, who said it will affect the forthcoming agricultural season as they put personal interests ahead of national interests.
Sources within the board feel the COTTCO board chairperson is making unilateral decisions considering that on the 31st of August a board resolution was made to fire all workers on contract to reduce the company’s wage bill.
This decision was overturned within 48 hours by appointing Manamike as Acting Managing Director who was affected by the board resolution with another source saying the new appointment was part of the management which ran down the company before.
A source who has been in the cotton industry for 15 years allege that a cartel involving members of the Cotton Ginners Association is against the resuscitation of COTTCO as they benefitted by purchasing cotton at ridiculous prices, hence they are behind the suspension of Engineer Murove who had put in place proper structures for the industry.
The developments at COTTCO are a cause for concern to the Cotton Marketers and Producers Association.
While the decision by the board to suspend Engineer Murove may be justified, what angers stakeholders is the continous change of management in-between seasons.
Sources within the board feel the COTTCO board chairperson is making unilateral decisions considering that on the 31st of August a board resolution was made to fire all workers on contract to reduce the company’s wage bill.
This decision was overturned within 48 hours by appointing Manamike as Acting Managing Director who was affected by the board resolution with another source saying the new appointment was part of the management which ran down the company before.
A source who has been in the cotton industry for 15 years allege that a cartel involving members of the Cotton Ginners Association is against the resuscitation of COTTCO as they benefitted by purchasing cotton at ridiculous prices, hence they are behind the suspension of Engineer Murove who had put in place proper structures for the industry.
The developments at COTTCO are a cause for concern to the Cotton Marketers and Producers Association.
While the decision by the board to suspend Engineer Murove may be justified, what angers stakeholders is the continous change of management in-between seasons.
One Reply to “COTTCO Gets New Boss”
Comments are closed.
Finally!!!
Murume uyu adzingwa aiwa neutsinye neuori usingaite. He was running the company to the ground. As a cottco employee ndiri kufara chose and I know 100% of employees wepacottco are also happy he is gone.
Iyo $40 is not about the amount but the concept behind the action. Mbavha imbavha chete!!! Whether aba $1 or 1 million. He should be arrested!!!
Besides this article looks like yakanyorwa naChris wacho. Why does he want to come back? He mentioned only nyaya ye$40 chete ko mamwe ese maissues akasimudzwa netsamba yevashandi?
Kana ane shungu dzekudzoka we would need an external Forensic Audit first to clear his name because internal audit he influenced it because of his presence.