Retail group Pick n Pay has announced that its chief executive officer Richard Brasher will retire, and will be succeeded by Pieter Boone.<\/p>\n
The changes take effect from 21 April 2021.<\/p>\n
Boone is a former chief operating officer of Metro AG, and a retailer with extensive international experience. He was appointed following an “extensive local and international search”, Pick n Pay said.<\/p>\n
\u201cWe are naturally very sad to be announcing Richard\u2019s departure,” said chairman, Gareth Ackerman.<\/p>\n
“He has led a remarkable turnaround in our company, and the Pick n Pay Group is immeasurably stronger now than when Richard took over in 2013. He has almost doubled Pick n Pay\u2019s store network, and has grown turnover from R55 billion when he joined the company to almost R90 billion.<\/p>\n
“As well as delivering consistent and sustainable profit growth, modernising the Pick n Pay business, expanding our offer and transforming our efficiency, Richard has led the transformation of Boxer into Africa\u2019s fastest-growing limited range discounter,” he said.<\/p>\n
Speaking on Boone’s appointment, Ackerman said that his global retail experience across a number of diverse geographies “will stand him in very good stead across all areas of the Pick n Pay business, including Boxer and franchise, our growing online offer, and our value-added services.\u201d<\/p>\n