DURBAN – Grindrod Limited has announced that Group CEO and Executive Director Xolani Mbambo will step down effective 31 December 2025, bringing to a close a 12-year journey with the logistics powerhouse. The news was disclosed this week through the Johannesburg Stock Exchange’s (JSE) SENS news service.
Mbambo’s departure follows a successful tenure marked by strategic repositioning and expansion across sub-Saharan Africa. Under his leadership, Grindrod secured key port concessions in Mozambique, entered into a 25-year terminal handling concession at South Africa’s Port of Richards Bay, and exited non-core businesses to sharpen its logistics focus.
“Xolani has led the company through a period of dynamic growth, driving a culture of operational excellence, zero-harm principles, and strategic asset consolidation,” said the board in its statement.
Board Launches CEO Search
Grindrod’s board has initiated the process to identify a new chief executive and will keep shareholders updated. Mbambo will stay on until year-end to ensure a smooth transition.
The announcement caps a tenure that saw Grindrod named second on the 2024 Sunday Times Top 100 Companies list, a nod to its strong financial and operational performance.
New Role at Kumba Iron Ore
In a major career move, Mbambo has been appointed as Chief Financial Officer and Executive Director at Kumba Iron Ore, a subsidiary of Anglo American, effective 1 January 2026.
He will replace outgoing CFO Bothwell Mazarura, who is stepping down after nearly eight years in the role. Mbambo will also serve on Kumba’s Social, Ethics and Transformation Committee, as well as the Strategy and Investment Committee.
Kumba CEO Mpumi Zikalala welcomed the appointment, citing Mbambo’s cross-sector expertise.
“Xolani’s deep experience in logistics, mining and finance will bring invaluable perspective to our executive team,” Zikalala said.
Strategic Divestments Complete
Grindrod’s announcement comes shortly after reports confirmed the company had finalised its exit from all non-core assets, including its stake in Cockett Marine, a marine fuel trading business.
The divestment is part of a broader strategic focus on integrated logistics solutions, solidifying Grindrod’s position as a cost-effective and resilient logistics platform in Southern Africa.
