SOUTH AFRICA – South Africa’s supermarket chain Pick n Pay has announced the retirement of Richard Brasher, as its Chief Executive officer with effect from April 21 after eight years at the helm.
Basher will be succeeded by Netherlands-born Pieter Boone, former Chief Operating Officer of German retailer Metro AG.
According to reports by Business Day, Brasher had initially intended to depart in 2020, but delayed the move to help guide the retail business through the COVID-19 pandemic and find a suitable replacement.
During his tenure as indicated by company Chairman Gareth Ackerman, Brasher led a remarkable turnaround in the company doubling Pick n Pay’s store network, and grew turnover from R55 billion (US$3.6 billion) when he joined to almost R90 billion (US$5.9 billion).
He is also commended for delivering consistent and sustainable profit growth, modernising the Pick n Pay business, expanding its offer and transforming Boxer into Africa’s fastest-growing limited range discounter.
“Today’s announcement is very much a planned succession. Richard originally told the board of his intention to step down over a year ago, and I am grateful to him for agreeing so readily to remain at the helm through the worst of the Covid-19 crisis, and until we had identified a suitable successor,” said Ackerman.
The celebrated CEO said this is in many ways a sad day for him but also an exceptionally proud one.
“My aim when joining Pick n Pay eight years ago was simply to leave the business in a much stronger position than I found it. I am extremely grateful to my team and the whole Pick n Pay and Boxer family for helping me to deliver this goal.
“The past year in particular has been the most unforgettable of my long career. In the face of the most incredible headwinds, our business and our people have stood strong, taken every challenge in their stride, and worked harder than ever before. We have delivered for the people who matter most – our customers,” he stated.
On his successor, Brasher said he was excited for Boone and the future of the Pick n Pay Group as he comes with significant experience in emerging markets.
Prior to his last role as COO of Metro AG, Boone was CEO of Metro Cash & Carry in Russia, one of Metro’s largest business units.
He has a track record of over 25 years of leadership experience in the retail, food service and wholesale sectors.
Commenting on his appointment Boone said, “I am delighted to be joining the Pick n Pay team at this time. My job will be to ensure that the Pick n Pay Group is at the forefront of change – earning the lifetime loyalty of more customers by giving them more, better and new ways to shop with Pick n Pay and Boxer.”
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