By Business Reporter
Africa-Press – Zimbabwe. TOBACCO firm, British American Tobacco Zimbabwe (BATZ) has announced the shock exits of its managing and financial directors, Kenneth Gitonga and Lucy Irungu, respectively, amid the firm accelerating its transformation journey.
The exits come hard on the heels of the firm posting a loss of US$7,1 million during its financial year ended December 31, 2024, from a prior-year profit after tax of US$9,07 million.
According to the report, the loss for the period was owing to a 23% decline in revenue and an expansion of 10% in the group’s monetary loss on hyperinflationary adjustment.
However, in its half-year performance ended June 30, 2025, BATZ overturned its loss-making position to post a profit after tax of US$4,33 million, from a prior-year loss of US$12,84 million.
Rumbidzai Hondora and Tumisang Lebogang have been appointed as Gitonga’s and Irungu’s replacements, respectively, effective January 1, 2026.
“As part of this transformation, the board of directors (the board) announces the following changes to the board: The resignation of Mr Kenneth Gitonga as the managing director of the company effective December 31,2025,” BATZ said in a statement.
“Mr Gitonga, who was appointed as a director on March 26,2024, also served as the general manager South African Markets.
“He brought a wealth of experience and knowledge to BAT Zimbabwe, owing to his breadth of experience having worked in various roles across multiple markets.”
BATZ said Gitonga had been instrumental in steering the company through a dynamic operating environment, building talent and strengthening organisational culture, as well as building a strong foundation for the company’s evolved strategy and transformation agenda.
“The resignation of Ms Lucy Irungu as the finance director of the company effective December 31,2025. Ms Irungu joined the board on March 26,2024 as finance director,” BATZ said.
“She has played a pivotal role in delivering financial leadership, strengthening liquidity and risk management, and securing the company’s fundamentals and long-term sustainability.
“The board thanks Mr Gitonga and Ms Irungu for their significant and exemplary contribution to the company and wishes them the very best in their endeavours.”
Commenting on Gitonga’s replacement, BATZ revealed that Hondora served as head of marketing deployment for BAT East and Southern Africa Markets, based in Kenya.
“She has also previously served as the regional manager for BAT South Africa, head of trade and marketing for BAT Zimbabwe and head of business development and marketing for Southern African Markets, based in Mozambique,” BATZ added.
“Ms Hondora brings demonstrated leadership, sound business acumen, and deep commercial and brand technical expertise to drive the next phase of BAT Zimbabwe’s transformation.”
Regarding Lebogang, BATZ said he served as the corporate finance manager for BATZ, where he was responsible for strategic and financial planning, financial reporting, and capital management.
“British American Tobacco Zimbabwe (Holdings) Limited (BAT Zimbabwe, the company) is accelerating its transformation journey.
“Over the last 18 months, the company has implemented a range of targeted strategic initiatives aimed at reinforcing business resilience and delivering sustained value for its stakeholders,” BATZ said.
“Some key highlights include implementation of dual currency billing and smart pricing strategies to enhance value delivery for consumers.
“The company has further strengthened its route-to-consumer execution through various market expansion initiatives, including enhanced distributor partnerships and expanded retail coverage, particularly in underserved peri-urban and rural markets.”
Additionally, the company has optimised its product portfolio and reinforced brand equity through consumer-focused interventions.
“To enhance operational efficiency, the company has continued with its business simplification efforts.
“This is in tandem with prioritising process automation and supply chain efficiencies, leading to notable reduction in its operating costs.
“The company also reinforced its commitment to compliance, transparency and accountability, through publication of its first inaugural sustainability report this year.
“The company continues to build a future-fit enterprise on the back of its strategy, which is aimed at delivering long-term, sustained value for its stakeholders.”
BATZ is also implementing structural optimisation initiatives, while also undertaking distinct leadership adjustments to support the next phase of its strategy.
Thus, this transformation aims to build on the established momentum and turbocharge the company’s strategic evolution, positioning it for long-term growth in an increasingly dynamic environment.
Last month, it was revealed that BATZ had injected directly and indirectly US$34,7 million into the economy in 2024 through taxes, climate action, wages and community support.
Source: NewsDay
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