Mimosa Holdings has appointed Mr Winston Chitando as its first executive chairman, in line with the country’s indigenisation thrust, The Sunday Mail Business can reveal.In a memo seen by this publication, company secretary Mr Fungai Makoni advised management on the appointment which is with immediate effect.“This is to confirm that at its meeting on Tuesday 7 May 2013, Mr W. Chitando was appointed executive chairman of Mimosa Holdings and Mimosa Mining Company.

Would you please brief employees in the normal manner,” reads part of the memo.Soon after his appointment, the incoming executive chairman immediately appointed Mr Fungai Makoni as the new managing director of Mimosa Holdings.

Having entered the mining sector in 1985 as an under-graduate of Anglo American Corporation, Mr Chitando assumes the reins at the multinational which recently signed a memorandum of understanding on compliance with the country’s indigenisation regulations.Mr Chitando was previously responsible for the implementation of Mimosa’s strategic plan.

In its latest financial results the platinum company, whose mineral reserves are estimated at 15 million ounces, posted revenue of US$68 million in the quarter to December 2012, an increase of 16 percent from the previous quarter.Mimosa has been active in its corporate social responsibility with recent assistance to Capota School of the Blind in Masvingo.