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Chinamo Steps Down As CEO Of Securities And Exchange Commission of Zimbabwe

Chinamo Steps Down As CEO Of Securities And Exchange Commission of Zimbabwe

The Securities and Exchange Commission of Zimbabwe (SECZ) CEO, Tafadzwa Chinamo, will leave the country’s capital market regulator at the end of this month after 10 years in the role.

Chinamo joined SECZ as CEO in 2011.

His departure is in line with the new Public Entities Corporate Governance Act (Part 1V), which states that CEOs of public entities should serve for a maximum term of five years, renewable once only, to make it 10 years.

Chinamo confirmed the development. He Chinamo told Business Times on Thursday:

It’s true, my term comes to end this month.

I joined SECZ in August 2011  and my departure is in line with the new Public Entities Corporate Governance Act. I only performed the CEO’s duties in the last six months waiting for the conclusion of the process to select the new CEO of SECZ.

Chinamo, however, refused to reveal the identity of the new SECZ CEO. He said:

The announcement will be published very soon on the new CEO taking over from me since the process is near complete.

Over the past 10 years, Chinamo said SECZ implemented several initiatives including the automation of the capital markets.

More: Business Times

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1 Comments

Analyst 5 months ago

Well done Mr Chinamo for abiding by stipulations of said Part IV of the Public Entities Corporate Governance Act. Since that is an Act of Parliament, it means it is the law. It is surprising though to note that not all Public Entities' CEOs (by whatever title they are called) comply with or are asked to comply with stipulations of said Act. Examples include Vice Chancellors of Government Universities in Bindura and Chinhoyi. The law should not be applied selectively and the responsible Appointing Authority should ensure that the law is respected to its fullest extent.



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