RETAILER, Meikles Limited, has appointed Matthew John Stewart Moxon as its acting chief executive officer (CEO) with effect from October 4, until a substantive replacement is found.
The appointment comes as TM Supermarkets (Pvt) Limited managing director Malcolm Mycroft vacated the role as group CEO two days before Moxon’s appointment.
Moxon’s appointment comes as Meikles announced back in June that the group would continue with planned development projects, primarily in the supermarket and properties segments.
“Shareholders are hereby advised that Meikles Limited has experienced changes in its executive structure. As of October 2, 2024, Malcolm Mycroft vacated the position of chief executive officer of Meikles Limited. He remains the managing director of TM Supermarkets (Pvt) Limited, a subsidiary of Meikles Limited,” Meikles said in a statement on Monday.
“The board of directors appointed Matthew John Stewart Moxon, as acting chief executive officer, on October 4, 2024, until a substantive chief executive officer is appointed. Moxon has a strong academic foundation and experience in retail and property management.”
According to Meikles, Moxon holds Bachelor of Arts in Political Science and History from Stellenbosch University and a Bachelor of Laws from the University of Cape Town.
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“He recently completed his Master of Business Administration at the University of Cape Town’s Graduate School of Business,” Meikles said.
Moxon began his career at Shoprite Checkers, where he completed its rigorous management training programme, advancing through project management and operations roles in its buying and Mozambique divisions, Meikles said.
It added that in 2017, Moxon joined the group, where his strategic leadership and business development skills have been instrumental in driving growth.
“Currently, Matthew serves as the managing director of Thomas Meikle Properties (Pvt) Limited. He is also a director of Tanganda Limited, where he plays a role in guiding the strategic direction,” Meikles said.
“His dynamic leadership style, combined with his legal and business expertise, continues to foster growth and innovation.”
In its financial results for the year ended February 29, 2024, Meikles posted a 430% increase in profit after tax to ZWL469,46 billion (ZWG187,78 million), from the 2023 comparative period, owing to a 102% increase in revenue.
From the group revenue, Meikles TM Pick n Pay supermarket segment contributed 99,38% or ZWL10,38 trillion (ZWG4,16 billion), to the total.
Meikles previously operated its supermarket chain as TM Supermarkets before it partnered South African retailer, Pick n Pay Stores Limited (Pick n Pay), which led to it rebranding to TM Pick n Pay.
Pick n Pay has a 49% stake in TM Supermarkets.