PIONEER Transport Africa (PCA) is hunting for a chief executive officer following the transfer of Gerry Hipwell to South Africa to head the group’s op
PCA managing director, Hamish Rudland, confirmed Hipwell’s relocation to South Africa, but refused to disclose further details.
“It’s a process that is happeng but I can’t comment further on that,” Rudland said.
PCA already has operations in South Africa.
The group has been on an aggressive expansion programme, pursuing opportunities mainly in the region.
The transport and logistics firm recently acquired Unifreight, another local transport company with a significant market share in both the country and region.
PCA has issued numerous cautionary statements advising shareholders that negotiations that may result in an acquisition were underway.
The group’s chairman, Patrick Chingoka, told businessdigest in an interview last month that they were seeking further offshore acquisitions.
He said they had plans to increase the company’s stake in an unnamed courier company.
Chingoka added that they were still pursuing the airline business and awaiting approvals from regulatory authorities.
PCA posted a $38,8 billion profit after tax in the year ended December 31, 2005, from a $4,2 billion loss the previous year.
The company’s asset base grew from $1,7 trillion to $2 trillion, while revenue shrunk from $1,3 trillion to $1,1 trillion.
PCA is a holding company for seven subsidiaries namely Pioneer Transport, Pioneer Coaches, Trek Africa, Pal Logistics, Clan, Cross City Courier and Sky Net.
All the business units made considerable profit contributing to the group’s positive results.
The PCA group was born out of a $7,5 billion acquisition by Pioneer Transport of Clan Transport.