South Africa-based Pick n Pay have announced that Richard Brasher will retire from his role as chief executive from 21 April 2021. The retailer said that Brasher will be succeeded as CEO by Pieter Boone, who was formerly the chief operating officer of Metro AG.
Brasher to leave Pick n Pay in stronger position than when he arrived
Brasher leaves after eight years as chief executive of Pick n Pay. During his time in charge, the retailer’s turnover has almost reached ZAR90 bn (US$5.9 bn), up from ZAR55 bn (US$3.6 bn) when he joined, while its store network has almost doubled in size. Elsewhere, the retailer noted the role he had played in ‘modernising the… business, expanding [its] offer and transforming [its] efficiency, [and] led the transformation of Boxer into Africa’s fastest-growing limited range discounter’.
Pieter Boone to take over from Brasher in April
Pick n Pay said that, after a comprehensive local and international search, Pieter Boone will replace Brasher from 21 April onwards. Boone was the chief operating officer of Metro AG before his contracted was terminated in 2018.
Metro, which has exited several countries since 2018, has extensive operations in emerging markets, which will put him in a positive place for overseeing elements of Pick n Pay’s operations. While Pick n Pay is in a stronger position that it was when Brasher took over, Boone will still have to oversee the continued updating of stores and investment in other operational areas, while also having to build the retailer’s presence in the less profitable online channel too.
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