Chithambo appointed acting Group Chief Executive for Press Corporation plc

The Board of Press Corporation Limited Plc (PCL) has appointed the corporation’s serving General Manager (Operations), Dr Lyton Chithambo, as the acting Group Chief Executive (GFE).

On the other hand, the company’s Group Chief Accountant, Moureen Mbeye, has been handed the roles of Group Finance Controller and Company Secretary.

Chithambo and Mbeye will replace, albeit in acting capacity, PCL’s three executives that held the positions of Group Chief Executive (GCE), Group Financial Controller (GFC), and Group Administration Executive (GAE) and Company Secretary whose contracts are coming to an end on 31st January 2022.

Now to head PCL in acting capacity–Dr. Lyton Chithambo

In December 2021, the Malawi Stock Exchange (MSE)-listed public company announced that it was undertaking functional changes in order to promote operational efficiency and turn around organizational performance.

PCL Board Chairman Randson P. Mwadiwa, said then that the functional changes followed the functional review the company’s Board of Directors conducted with technical assistance from a team of local and international business advisers/experts.

He added that apart from the restructuring initiative, the directors also reviewed the holding company’s organizational structure in order to make it lean, more optimal and cost effective so that it meets stakeholder expectations.

And in a statement issued on Tuesday, Mwadiwa says the initial phase of the exercise, which included job role review, realignment and right and cost effective positioning, has resulted in the adoption of a modified corporate office structure.

He says as a result of this change, PCL’s three executives that held the positions of Group Chief Executive (GCE), Group Financial Controller (GFC), and Group Administration Executive (GAE) & Company Secretary will be leaving the Group with effect from 31st January 2022.

“The Board is grateful to the outgoing executives for their contribution during the time they served PCL and wishes them success in their future endeavours. In the meantime and in acting capacities, the Board has assigned all tasks performed by the outgoing GCE to Dr Lyton Chithambo, the current General Manager Operations. The roles of GFC and Company Secretary have been assigned to Ms. Moureen Mbeye, the current Group Chief Accountant,” reads the statement made available to Nyasa Times.

According to the statement, Chithambo holds a PhD in Finance, an MSc in Finance and Risk, a B.Com in Accountancy and is a Fellow of both ACCA and Higher Education Institute of United Kingdom. He is an experienced operative of the PCL Corporate Office having worked in various roles before taking charge of the Operations responsibilities of the Group in 2020.

On the other hand, Mbeye is an experienced finance professional with almost two decades of experience in financial management, auditing, reporting and management, thirteen of which been in the PCL Group, at both Subsidiary and Corporate Office levels. She is a Fellow of ACCA and has a B.Com in Accountancy and is a Certified Public Accountant.

“The Board is confident that both Dr Chithambo and Ms Mbeye will discharge their assigned responsibilities with skill and diligence. The Board wishes both of them every success. The Board will keep PCL’s stakeholders apprised as and when significant milestones are achieved during this process of implementing the results of the functional review,” assures Mwadiwa.

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