Press Corp to announce post-Chikaonda era road map: Malawi’s largest conglomerate has new CEO
Dual-listed Malawi’s largest conglomerate Press Corporation Limited (PCL) is set on Wednesday to announce its new road map afrer hiring George Partridge to succeed Mathews Chikaonda as group chief executive officer.
Chikaonda is set to retire on December 31 this year after 14 years.
The conglomerate, listed on the Malawi Stock Exchange (MSE) and London Stock Exchange (LSE) as a global depository receipt is regarded as one of the largest holding companies in Malawi and has interests in financial services, telecommunications, food and beverages, energy and consumer goods.
According to Press Corp.’s company Secretary Benard Ndau, PCL will unveil its new rod map on September 7 in Blantyre where PCL’s performance highlights will be displayed.
The highly diversified company says its post-Chikaonda strategy further embraces new sectors earmarked for future investments like tourism and energy.
“Press Corporation Limited’s investment activities focus on maintaining a leading position in the private sector; and concentrates in sectors where potential market growth is ascertained from the global economic and social trends,” reads the strategic plan.
It adds that Press corp. seeks to explore viable investment opportunities in various sectors of the economy in order to strengthen its portfolio of investments and enhance shareholder value.
“Press Corporation Limited’s investment activities focus on maintaining a leading position in the private sector; and concentrates in sectors where potential market growth is ascertained from the global economic and social trends.”
Presently, Press Corp has stakes in several subsidiary companies, joint ventures and associated companies in different sectors of the Malawi economy including financial services, telecommunications, food and beverages, energy and consumer goods.
The company continues to explore viable investment opportunities in various sectors of the economy in order to strengthen its portfolio of investments and enhance shareholder value.
Press Corporation has stakes in Carlsberg Malawi, TNM, Limbe Leaf Tobacco, MTL, MALDECO and Ethanol Company Limited.
Partridge comes in as CEO after serving as head of National Bank of Malawi, another PCL subsidiary and was instrumental in the bank’s recent acquisition of Indebank.
“To ensure smooth transition before Chikaonda’s retirement, Partridge’s appointment is with effect from 1st November 2016,” said PCL in a statement.
Press Corporation Limited is a public company incorporated in Malawi, under the Companies Act 1984.
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That Mathews mateyo Chikaonda will retire this December is a big blessing to not only Press Corporation but to the country. The guy is a thief and has brought down Press to a quarter of what it used to be when he took it over in 2002 when Aleke Banda fought very hard to leave him there. The guy has formulated so many theft schemes including forcing other peoples wives to sleep with him. For heaven’s sake how does a guy get MK6m per month as car allowance without Board approval? This guy came from Canada with two suitcases and… Read more »
Open all those PTC shops that Chikaonda closed down and open more shops.
i admire DR GEORGE PATRIDGE, he looks to be a humble guy, very open and very professional, he is not pompous like one mad dog by the name of Mathews chikaonda, this guy thinks that his PHD and MBA papers were obtained from a university of Heaven, and yet George patridge is FCCA someone who has practical training and experience in finance, may the good lord protect u george and may your health never grow cold, revive MTL Malawi largest telecommunications company the backbone of economic growth through ICT
Congratulations George!