Pick n Pay appoints new chief financial officer

Pick n Pay has appointed Lerena Olivier as the group’s new chief finance officer (CFO) and executive director

Olivier will replace outgoing CFO, Bakar Jakoet, who will be retiring on 6 September 2019 after 34 years of dedicated service to Pick n Pay.

According to the group, Olivier’s appointment reflects the strategic and operational importance of the role, and follows an extensive search involving both internal and external candidates.

“Lerena has been a senior executive within Pick n Pay’s group finance division for the past eight years, where she has worked very closely with the current CFO, Aboubakar (Bakar) Jakoet. She is a qualified Chartered Accountant (SA) and has 18 years of experience with JSE-listed companies in the retail sector,” the group said.

Olivier  currently heads  Pick n Pay’s reporting and finance team, and has a strong background in finance, risk management, strategy, accounting and tax.

“Her expertise and experience equip her extremely well for her new role as Group CFO,” Pick n Pay said.

Bakar will continue to contribute to Pick n Pay by serving in a non-executive capacity on the board.

The appointment comes into effect on 6 September 2019.

Read: Pick n Pay CEO scores massive R32 million payday

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Pick n Pay appoints new chief financial officer