Simba Corporation’s CEO and majority shareholder Adil Popat has stepped down after a decade to become executive chairman as part of leadership changes at the fast-growing company.
Mr Dinesh Kotecha, who was the firm’s executive director, is the new chief executive officer.
Simba also appointed Suraj Shah as the chief finance officer while Matata Munyeke and Ameet Shroff will head Simba’s emerging and established automotive business respectively.
“The new appointments aim to better position the group for the future, evolve the group’s growth and improve internal and external operations,” Simba said in a statement, adding that the changes took effect on Monday.
“Simba Corporation has laid out a diversification strategy that aims to grow the business in the region.”
Simba, founded by the late Abdul Karim Popat, has grown rapidly in recent years in what has seen it expand its presence in the automotive and hospitality sectors.
Recent moves include acquisition of a 35 per cent stake in Hemingways Holdings, adding to its hotel properties that include Nairobi’s Villa Rose Kempinski.
Simba is also set to take full control of Mombasa-based Associated Vehicle Assemblers (AVA) by acquiring the 50 per cent stake held in the company by Marshalls East Africa.
The company is betting on the new management team and structure to grow its business.
Mr Kotecha previously worked for advisory services firm PricewaterhouseCoopers for 17 years.
Mr Shroff will oversee Simba’s established motor vehicle franchises Fuso, Mitsubishi and BMW while Munyeke will lead Renault, Mahindra, Power Systems, AFMS and SAME brands which were acquired in the past few years.