By Tarisai Mudahondo
Edgars Chief Executive Officer (CEO) Tjeludo Ndlovu and Chief Finance Officer (CFO) Happiness Vundla have stepped down and have left the company with effect from today.
These changes came as the majority shareholder, Sub-Sahara Capital Group (SSCG) steps to revive the company’s fortunes, marking a significant transformation in Edgars leadership.
Ndlovu has been CEO of the company since 2020 when it was battling to stay afloat during the of Covid- 19 era and Vundla was also appointed to the post in 2021.
The new CEO Sevuios Mushosho was appointed to the Edgars board after SSCG bought the majority stake from South Africa’s Edcon in 2019.
Edgars has been crying foul over the significant rise in costs after the Central Bank’s sharp increase of interest rates to 200 percent in an attempt to curb inflation.