Edcon appoints former Massmart chief as new CEO
Struggling retailer Edcon has appointed former Massmart chief, Grant Pattison, as its Group CEO, starting February 2018.
Edcon’s current CEO, Bernie Brookes, will extend his contract, which would have expired in September 2017, to January 2018.
The change comes after Edcon reported a 6.7% slide in retail sales to R25.343 billion for the year ended March 2017.
As a result of a challenging and competitive retail landscape, retail cash sales decreased by 2.4%, Edcon said.
The group appointed Brookes as CEO in September 2015, after Jürgen Schreiber announced in June of that year that he would not renew his contract.
Edcon said that Pattison would be appointed COO/CEO designate on 5 June 2017, joining Edcon’s executive management group, to ensure a smooth and effective transition.
He will assume immediate responsibility for the group’s strategic implementation process, the CNA brand, Edcon’s growing cellular offering, as well as its Africa business, where Edcon operates in eight countries on the continent, in addition to South Africa.
Edcon’s chain stores include Edgars, Edgars Connect, Jet/Jet Mart and CNA.
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