BOARD EXIT
Momentum Retail chief opts to resign
Khanyi Nzukuma has resigned as CEO of Momentum Retail after only five months in the role. He leaves MMI Holdings at the end of December after eight years with the group. Nzukuma, who moved to Cape Town when he became CEO of Metropolitan Retail three years ago, had been commuting to Gauteng since being appointed to the Momentum role in June. He and his family were no longer able to relocate to Gauteng, MMI said in a staff communication on Wednesday. "The Momentum Retail business has to be run from Gauteng." His resignation follows the recent departures of chief operating officer Danie Botes and Etienne de Waal, who was Nzukuma’s predecessor. The Metropolitan and Momentum retail businesses would be combined into one structure, reporting to deputy group CEO Mary Vilakazi. The group would review Vilakazi’s commitments in due course to ensure she had sufficient time for the businesses, MMI said. ziadyh@businesslive.co.za
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.