Daybreak names Manzini as CEO
Public Investment Corporation-owned Daybreak Farms on Monday said the director of its transitional board, Richard Manzini, took over as CEO at the beginning of 2024, replacing Matshela Seshibe, who was suspended a year ago over procurement-related issues.
Manzini, whose qualifications include a B.Bus.Science (UCT), LLB (Unisa), MBA (Wits), MMFI (Wits), and MSc (UP), is described by the company as a “corporate farmer” and a “tough and resilient strategist”.
He has been appointed as Daybreak tries to stage a turnaround after a string of scandals and a tough operating environment characterised by the devastating effect of avian flu, limited power supply and escalating feed costs which battered the company in 2023.
“The mammoth task to turn around an entity in the prevailing operating environment requires a brave character and the expertise of a well-rounded strategic leader with a deep understanding of the SA poultry landscape and its contribution to food security,” said Daybreak Farms chair Vuyelwa Matsiliza.
“Manzini is the perfect fit for the role, having contributed to significant stability and growth in the sector in the recent past.”
Daybreak Farms is an integrated poultry operation that supplies its own and contracted broiler farms with day-old chicks, which are raised and sold as fresh and frozen whole chickens and portions.
The company, one of SA’s largest poultry producers, also owns established feed milling operations.
Daybreak reported a loss at the March 2023 financial year end and will be looking to the new CEO to lead the turnaround.
The group found itself in hot water after more than R150m was siphoned from Daybreak by a group of individuals and companies linked to the company secretary, the Sunday Times reported.
Procurement-related irregularities also led to the axing of former Daybreak CEO Seshibe last January.
However, the former CEO was cleared of any wrongdoing in July after a disciplinary process uncovered that the report used to suspend him had been maliciously fabricated in a bid to incriminate him.
Subsequently, Seshibe parted ways by mutual separation with Daybreak, pocketing a full year’s salary after working for only six months.
Internal ructions, including a battle at the Commission for Conciliation, Mediation and Arbitration, have also rocked the company in recent years.
Manzini said the future focus was to embed Daybreak Farms in the sector and among its peers as a reliable partner.
He said the group is aspiring to become an employer of choice and to be better prepared for the volatility that comes with the sector’s operating environment.
“Daybreak’s corporate image is marred with negative media. However, these reports relate to historical mismanagement, corruption and malfeasance,” Manzini said.
“The current board is addressing these matters in the ordinary course within the applicable legal framework.”
DAYBREAK’S IMAGE IS MARRED WITH NEGATIVE MEDIA. HOWEVER, THESE REPORTS RELATE TO HISTORICAL MISMANAGEMENT Richard Manzini Daybreak Farms CEO