Diamonds boss faces demotion

ZIMBABWE Consolidated Diamond Company (ZCDC) is hunting for another chief executive officer amid reports of plans to redeploy its acting boss, Ridge Nyashanu as production levels have remained unimpressive.

Source: Diamonds boss faces demotion – NewsDay Zimbabwe September 9, 2016


The ZCDC board reportedly met last week and passed a resolution to redeploy Nyashanu to the mine in a less influential position. But his transfer is reportedly being blocked by some Mines ministry officials, who feel he is not the source of problems at ZCDC.

If his redeployment is successful, this will be the third time the consolidated diamond company would have changed CEOs since its formation early this year.

Nyashanu replaced Mark Mabhudu, who was sacked along with other executives for allegedly failing a polygraph test and amid poor production at Chiadzwa mines.

Contacted for comment on Wednesday, Nyashanu said he was not part of meetings that passed the resolution and had no knowledge of plans to redeploy him.

“I was not part of the meetings that you are referring to. I am not in a position to comment and I am referring you to the minister or the permanent secretary,” he said.

Nyashanu also denied claims that he was refusing to go to the diamond fields and take up a lower position, while also dismissing as false that production was still poor at the consolidated mine.

However, close sources maintained the company’s poor performance was unsettling top ministry officials, including the minister, Walter Chidakwa, following projections they will miss their mining targets.

“Nyashanu has the minister’s backing, but the board has resolved to redeploy him. He is supposed to be operating from the mine to pave way for another CEO starting this week, but he is still around,” a close source said yesterday.

“The problem with ZCDC is that there are a lot of people who were hired, but they do not have operational knowledge. There is also too much interference on day-to-day operations at the mine. There is disunity and internal fights over how the company must operate. This is a tricky situation considering that the ministry had promised increased production. With the worsening economic situation, the government is fast losing patience with ZCDC.”

Both Chidakwa and permanent secretary, Francis Gudyanga were not reachable for comment.