Grindrod, a South African company listed on the Johannesburg Stock Exchange (JSE), has announced that Xolani Mbambo, current CEO and executive board member, will step down after 12 years of service with the group. The company has already begun the process of identifying a successor, and Mbambo has agreed to remain available until December 31 to ensure an orderly and efficient leadership transition, according to news portal Mining Weekly on Thursday, June 19.
During his tenure, Mbambo led a strategic transformation of Grindrod. The company highlights several key milestones under his leadership, including the establishment of a “zero-risk” culture for employees, a consistent focus on operational excellence, and the extension of strategic port asset concessions at the national ports of Maputo and Matola.
Another major achievement was Grindrod’s strategic entry into container handling operations at the Richards Bay Port in South Africa, secured through a 25-year concession. The company also consolidated ownership of previously partially held assets and successfully divested from non-core assets.
“With these achievements, Grindrod has reinvented itself as an integrated, efficient, and cost-effective logistics platform in Sub-Saharan Africa, with a promising growth project portfolio and a strong leadership team ready to deliver,” the company statement highlighted.
Having achieved these goals, Xolani Mbambo has decided to move on to the next chapter of his professional journey. Grindrod’s Board of Directors publicly expressed its gratitude for his dedicated leadership over the past decade, emphasizing his outstanding track record in consistently executing the company’s strategy. This performance earned Grindrod second place in the Sunday Times Top 100 Companies awards in 2024, one of the most prestigious accolades in the South African business sector.
The company has not yet announced any potential successors but affirmed that the transition process will be handled carefully, ensuring continuity in its strategic vision.
Source: DE
