Africa-Press – Zimbabwe. DIVERSIFIED agro-industrial concern Ariston Holdings Limited has appointed Michael Allan Bailey as its new chairperson banking on his expertise in repositioning the group’s operations.
Bailey takes over from Alexander Jongwe who has retired and has been at the help of the group for the past 10 years.
In an update, Ariston said it hoped that Bailey, who is in coming in with over 40 years working experience, will help with strategic growth planning as the group embarks on its marketing campaign.
“The board of directors are pleased to announce the appointment of Michael Allan Bailey as the chairperson of Ariston Holdings Limited, with effect from September 1, 2025. Michael takes over from Jongwe who retired from the board on July 28, 2025,” the firm said.
“Michael possesses over 40 years’ experience in agribusiness and related project development and implementation in Africa.
“He is a pioneer in the development of the export horticultural industry in Zimbabwe and greenfield Horticultural projects.”
Ariston said Bailey was joining the group at an exciting time when it is embarking on a growth and market repositioning path.
“The board wishes Michael well in his new role. Alexander Jongwe resigned from his position as chairman of Ariston Holdings Limited, effective July 28, 2025 after serving the board for 10 years,” the group said.
In addition, the group announced that another director, Innocent Chagonda, had resigned from the Ariston Holdings Limited board effective July 25, 2025 after serving for 14 years.
The board expressed gratitude for the leadership and expertise provided by Jongwe and Chagonda, wishing them well in their future endeavours.
Meanwhile, the group is working on plans to revive production following the acquisition of an additional loan of US$3 million.
This comes after reporting a half-year loss of US$1,43 million for the period ended March 31, 2025, attributed to liquidity pressures stemming from the financial crisis and power shortages nationwide.
Ariston is implementing new strategies to boost production, including investing in a solar project that currently generates approximately 500 kilowatts of energy for its factory, with surplus energy fed into the grid and plans are in place to expand this capacity to 1,5 megawatts.
The group is also focusing on adding value to its macadamia nut production.
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