CBZ Holdings, the parent company of CBZ Bank, has initiated a restructuring exercise to adapt to the changing business environment and enhance its market position.
As part of this process, 13 senior executives will leave the company next month. The first phase of the restructuring will see these executives departing on October 1, with their contracts set to be mutually terminated by the end of the year. CBZ chief executive Lawrence Nyazema said in a statement:
CBZ Holdings is embarking on a restructuring exercise across its group of companies, aimed at aligning the Group’s strategic thrust with the evolving business environment.
This move is part of our broader efforts to strengthen our market position and ensure long-term sustainability in our dynamic market.
The first phase of the process is at the executive level, resulting in the departure of thirteen (13) senior executives.
The executives will go on garden leave starting 1
October 2024, with mutual termination of their contracts expected by 31 December 2024.CBZ Holdings remains fully committed to fulfilling its obligations and delivering the high-quality service our customers have come to expect.
By streamlining our operations, managing costs effectively, and sharpening our strategic focus, we are better positioned to serve our clients and stakeholders more efficiently.
We are committed to continually improving our business processes and adapting to the changing needs of the market to ensure continued growth and success.
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