Pick n Pay's British CEO Richard Brasher is retiring with effect from 21 April, announced chairman Gareth Ackerman on Thursday.
Brasher's contract, which was originally supposed to end this year but was extended until a replacement was found or till 2022 to help guide Pick n Pay through the Covid-19 pandemic. Brasher has been at the helm of the retailer for eight years.
Ackerman said the company is naturally very sad to be announcing Brasher's departure.
"He has led a remarkable turnaround in our company, and the Pick n Pay Group is immeasurably stronger now than when Richard took over in 2013. He has almost doubled Pick n Pay’s store network, and has grown turnover from R55 billion when he joined the company to almost R90 billion."
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," said Brasher.
Brasher will be succeeded by Pieter Boone, former Chief Operating Officer of Metro AG. The fifty-three-year-old has over 25 years of leadership experience in the retail, food service and wholesale sectors. Boone is a Dutch national currently living in the Netherlands.
"I am delighted to be joining the Pick n Pay team at this time. Richard is leaving the business in a very strong position, with huge potential to grow and serve more customers," said Boone.
"Retail is changing throughout the world, and my job will be to ensure that the Pick n Pay Group is at the forefront of change."