SOUTH AFRICA – Shoprite’s Chief Financial Officer Marius Bosman will be stepping down from his position in July, after the retailer completes its financial accounts for the year ending June, reports Business Day.

He will however remain as a consultant, according to the market announcement by the firm, as he has served for as long as 25 years.

Having joined Shoprite Holdings Ltd in 1993, Bosman served as Financial Director since August 2014 and also as a General Manager of Group Finance.

“He will remain involved as a consultant to Shoprite Holdings inter alia to assist in the completion of the financial statements.

As such, Mr Bosman will remain involved in the preparation and completion of the financial accounts for the year-end to June 2018.”

“The board wishes to thank Mr Bosman for his valuable contribution during his career and look forward to his continued involvement in the group,” said a statement from the group.

Bosman will be succeeded by Anton de Bruyn, a qualified chartered accountant with more than 15 years’ service within the Shoprite group, most recently in the capacity of deputy general manager group finance.

“Mr de Bruyn will act as CFO designate for the next three months and will be appointed as an executive director effective 2 July 2018.

The board is confident that his appointment will add significant value to the financial governance and strategic initiatives of Shoprite Holdings,” the company said in its statement.

Appointment of Bruyn as acting CFO was arrived at by the audit and risk committee who said that his experience and expertise supported his merit.

Fin24 also said that on the day the announcement was made, Shoprite shares were trading at US$20.65 on the JSE, up 1.59%.