As first reported by Nehanda Radio on 7 October 2024, Meikles Limited, a listed hospitality and retail big, has lastly confirmed the firing of Malcolm Mycroft as Chief Executive Officer (CEO) amidst allegations of racism, overseas foreign money looting and unfair wage practices.

According to the corporate secretary Thabani Mpofu, the Board of Directors appointed Matthew John Stewart Moxon, as Acting CEO till a substantive Chief Executive Officer is appointed.

Moxon is the present Managing Director of Thomas Meikle Properties (Private) Limited.

“Shareholders are hereby suggested that Meikles Limited has skilled modifications in its govt construction. As of two October 2024. Mr Malcolm Mycroft vacated the place of Chief Executive Officer of Meikles Limited.

“He remains the Managing Director of TM Supermarkets (Private) Limited, a subsidiary of Meikles Limited,” Mpofu mentioned in an announcement.

“The Board of Directors appointed Mr Matthew John Stewart Moxon, as Acting Chief Executive Officer, on 4 October 2024 till a substantive Chief Executive Officer is appointed.

“Matthew Moxon has a powerful educational basis and expertise in retail and property administration. He holds a Bachelor of Arts in Political Science and History from Stellenbosch University, a Bachelor of Laws from the University of Cape Town.

“He lately accomplished his Master of Business Administration (MBA) on the University of Cape Town’s Graduate School of Business.

“Matthew started his profession at Shoprite Checkers, the place he accomplished their rigorous Management Training Programme, advancing by challenge administration and operations roles of their Buying and Mozambique Divisions.

“In 2017, he joined Meikles Limited, the place his strategic management and enterprise growth abilities have been instrumental in driving progress

“Currently, Matthew serves because the Managing Director of Thomas Meikle Properties (Private) Limited. He can also be a Director of Tanganda Limited, the place he performs a task in guiding the strategic course.

“His dynamic leadership style, combined with his legal and business expertise, continues to foster growth and innovation.”

Sources near the matter have revealed that Mycroft allegedly signed a contentious settlement with out board approval, sparking considerations over governance.

Insiders disclosed to Nehanda Radio that Mycroft and Walter Stephens, a senior purchaser, obtain disproportionately excessive salaries in comparison with native employees.

Reports point out that Stephens earns a staggering US$20,000 month-to-month, surpassing the salaries of his TM Pick n Pay superiors and Meikles’ head workplace executives.

In stark distinction, junior workers are reportedly paid a mere ZWG 5,000 (US$230), highlighting vital disparities in compensation. This has led to allegations of inflated compensation packages for Mycroft and Stephens.

Employees have since sought intervention from the National Economic Conduct Inspectorate, citing considerations over potential favoritism in direction of overseas executives and unauthorised overseas foreign money transactions.