Business & Finance

Zimplats CEO Alexander Mhembere Steps Down After 19 Years, Succession Handed to Operations Chief Stanley Segula

By Today News Hours Editorial Desk

Alexander Mhembere will retire as chief executive officer of Zimplats, Zimbabwe’s largest platinum producer, effective November 1 2026. He has served as CEO since October 2007 and will remain as chairman of the operating subsidiary, Zimbabwe Platinum Mines, to ensure continuity during the transition. Stanley Segula, who has been the company’s operations chief for more than 18 years, will take over the role. Segula inherits a platform that has been expanded through a US$1.8 billion investment programme. The programme funded mine development, expanded concentrators, an upgraded Selous smelter and renewable energy projects. Zimplats commissioned a 35 MW solar plant and a 38 MW smelter expansion in fiscal year 2025, and a 185 MW solar programme is planned. The company’s unit costs rose 23 % in fiscal year 2026, despite higher throughput, and the sector has faced a platinum‑group metals price slump that led to voluntary retrenchments in 2024, capped at about 1 % of the workforce. The succession is framed as a test of whether the expanded, more integrated operation can deliver reliable production and value without further cost cuts. The story is reported by the company’s press release.