Pieter Boone steps down as Pick n Pay CEO
Pieter Boone has stepped down as CEO of the grocery retailer Pick n Pay with immediate effect.
The company made the announcement in a statement on Monday, saying the board and Boone agreed that he would step down from the role less than two and half years after taking over.
His last working day was Saturday, 30 September.
Boone will be replaced by Sean Summers, who ran the company as MD between 1996 and 1999 and CEO between 1999 and 2007.
Chairman Gareth Ackerman said Boone will assist Summers during a short handover period.
"I want to thank Pieter for his dedication to Pick n Pay over the past two-and-a-half years.
He became our CEO while the Covid pandemic was still raging and has led the business through some extraordinary challenges, including the transition out of the Covid lockdown, the unprecedented civil unrest in 2021, and the current load-shedding crisis.
“Despite this, he devised and led the launch of our Ekuseni strategic plan, overseeing the very pleasing acceleration of our Boxer, Clothing and Omnichannel growth engines and launching our new QualiSave brand.
"Unfortunately, in a very difficult environment, the performance of our core Pick n Pay business has been very challenging over the past months and has not met expectations.
“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," he said.
Ackerman said Summers will take over with a goal to turn around the performance of the group's Pick n Pay Retail core engine while ensuring the continued success of the group's growth strategies.
"He will also prioritise an effective handover plan to the next generation of leadership in the company. We are delighted that Sean is coming back to Pick n Pay. His knowledge and experience is unrivalled.
“He is passionate about getting Pick n Pay back on to the right trajectory and winning the trust and confidence of customers, new and old. He is absolutely the right person for the job at this time.
"Sean is an inspirational leader. He will galvanise our teams, energise them to give everything for our customers, and delight the communities we serve," said Ackerman.
Summers expressed his excitement to be returning to Pick n Pay.
"I am looking forward tremendously to meeting our teams up and down the country. We are in this together, and we will succeed together.
"I enjoyed the most extraordinary years working with the late Raymond Ackerman, and we retained a deeply personal relationship to the end. The best way I can honour Raymond and Wendy's legacy is to put Pick n Pay back onto its rightful path to growth and success. I worked closely with Gareth for many years, and we will make a great team together," he said.
ALSO READ
