The board believes Sean Summers can steer the retailer back to its glory days of dominance in the grocery retail space.
Pick n Pay CEO Pieter Boone has resigned from his position with immediate effect after years at the helm of the JSE-listed grocery retail giant and he will be replaced by former CEO Sean Summers.
He was also the implementing lead of the group’s Ekuseni strategic plan which was aimed at expanding the retailer’s reach across different consumer categories. The plan saw the expansion of Boxer stores and the rollout of QualiSave stores – both meant to compete with its main competitor Shoprite Group’s Shoprite and Usave offerings in the lower segments of the grocery retail market.
“Pieter accepts that the board has decided on a change in leadership. He leaves us with our heartfelt thanks and best wishes for the future.”Summers, who was Pick n Pay CEO between 1999 and 2006, has won the board’s endorsement to “turn around the performance of the group’s Pick n Pay Retail core engine”.
An effort was even made to dig up an old quote by the late, great founder of the group Raymond Ackerman, who is said to have described Summers as “an excellent leader, who achieved remarkable things at Pick n Pay”.
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