Nico Holdings Board Chairperson Gaffar Hassam announced that he has stepped down as chairperson for the company to focus on what he termed a “personal development career path”.
Hassam has served as chairperson for the board for seven years.
This came out during the company’s annual general meeting in Blantyre last week.
In an interview after making the announcement, Hassam said it is time to change as organisations need to refresh and bring in new leadership.
“In terms of my own growth, there are changes that I need to take into account. But it has been truly a privilege to work with such a group. It’s a significant group, not only in Malawi, but across the continent, across the globe; it’s a recognisable brand.
“I think it’s best to leave when things are at a high note and I really wish them success. The management team and everybody within the Nico family are the best as they continue aiming higher,” Hassam said.
He added that he is more than satisfied having seen the company’s share price increase from K28 per share to over K150 per share during his tenure.
Minority Shareholders of Listed Companies (Misalico) General Secretary Frank Harawa thanked Hassam for his service.
“He was a very good chair and has indeed helped the company to succeed during his tenure despite the economic challenges that were faced. He was good with people, accommodative of all the ideas that we put across as shareholders and we wish him well wherever he is going,” Harawa said.
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