Khanyi Nzukuma resigns as Momentum Retail CEO

The two retail businesses will also be merged into one, reporting into MMI deputy group CEO, Mary Vilakazi (pictured)

According to Nicolaas Kruger, Group CEO of MMI Holdings, Nzukuma and his family have decided to stay in Cape Town and, because the Momentum Retail business has to be run from Gauteng, Nzukuma has decided instead to take up a senior executive role at another institution in Cape Town from early 2018.

Nzukuma has been a member of the MMI exco for the past three years as CEO of Metropolitan Retail, and was appointed CEO of Momentum Retail in June this year, after leading an extensive renewal in Metropolitan Retail. Nzukuma has been employed with MMI for the last eight years.

Kruger says the company has decided to use the opportunity to combine the two retail businesses into one structure, reporting into MMI deputy group CEO, Mary Vilakazi (pictured).

Kruger said:

“Over the last few months, Khanyi and Mary have already been working on bringing the two retail businesses closer to each other. Within the combined structure, the Metropolitan and Momentum sales and distribution channels will however continue to focus on their respective market segments, using the Metropolitan and Momentum client-facing brands.”