JATU board appoints Simbano as acting Chief Executive Officer

06Aug 2022
By Guardian Reporter
​​​​​​​Dar es Salaam
The Guardian
JATU board appoints Simbano as acting Chief Executive Officer

​​​​​​​Dar es Salaam Stock Exchange (DSE) listed JATU Public Limited Company has announced the appointment of Mohamed Issa Simbano as Acting Chief Executive Officer, effective from August 1, while the search for a substantive CEO is ongoing.

Mohamed Issa Simbano.

The appointment of Simbano was approved during extra ordinary meeting held on July 25, this year, as part of the company’s restructuring of the management and business model, according a statement issued by Dr. Zaipuna Obed Yonnah, the company board chairman.

The chairman, who issued a statement yesterday from Sumbawanga, noted that the appointment of Simbano came after the departure of Peter Isare Gasaya.

“Since 2016, Gasaya has been the founder and CEO of the company, and we thank him for his efforts, passion and commitment during his six years of leadership of our company,” he said. “We wish him all the best in his new role, as will be further announced by the company.”

Simbano has been the company secretary and general manager since 2016.

“We believe Mr. Simbano’s experience and knowledge of the company, and its operations will take our company through this interim period,” the chairman said. “Further, the board is using this opportunity to call for competent candidates to apply for the senior positions as announced by the company through the public notice published on 27th July.”

He added that the company will inform stakeholders about the outcome of the restructuring in due course once the recruitment process is completed.

JATU PLC is a Tanzanian company involved with Agriculture, industries and markets was registered on 20th October, 2016. Its share price at Dar es Salaam Stock Exchange (DSE) closed at 300/- Thursday this week.

The company purchases farmer’s produces and process various food products to its industries including maize flour milling factory and sunflower cooking oil factory, both located in Kibaigwa, Dodoma, rice processing factory in Kilombero Morogoro  and a beans packing factory located at Kilindi in Tanga.

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