Business Briefs

ZB chief executive Mutandagayi fired over wife-bashing video

RONALD Mutandagayi has left ZB Financial Holdings (ZBFH) after 17 years of service, eight of which as the chief executive officer (CEO).

His departure came after a video of him assaulting his wife went viral on social media in March this year; a situation which the board thought was taking the name of the lender into disrepute.

Initially, Mutandagayi was in March sent on leave to deal with his personal issues.

When he returned in April, Mutandagayi was sent home again for another month-long forced leave.

In a statement the financial services group said it was considering appropriate action to take against the banker.

However, Mutandagayi, this week confirmed to Business Times that he has left ZBFH.

“I left ZB on Tuesday last week after a series of negotiations came to nothing. The board and I could not agree on a number of issues hence I saw it prudent to leave the bank. As of now, I’m home and pondering the next move,” Mutandagayi said.

The banker has also left his position as the vice president of the Bankers Association of Zimbabwe.

Prior to joining ZBFH, Mutandagayi worked at Willowvale Mazda Motor Industries as general manager.

He also worked for Standard Chartered Bank Zimbabwe Limited as the company secretary and Head of Banking Services, a position he held until April 2001 when he left to join NDH Holdings Limited as chief finance officer.

Prior to being ZBFH group CEO, Mutandagayi was the ZB Group Head of Finance and Risk and later MD of the group’s banking unit, ZB Bank. ■

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