Former Pick n Pay boss Sean Summers makes a triumphant return to his old position as the CEO, this comes after the retailer reported that Pieter Boone has resigned as CEO with immediate effect.
“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,” Chairman Gareth Ackerman said.
“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.”
Summers is excited to re-unite with Pick n Pay: “I am very excited to be coming home to Pick n Pay. Retailing is my passion, and this company is in my blood. I have great excitement and energy for the task ahead. I look forward to leading the Group back to the position it deserves.”
“I enjoyed the most extraordinary years, working with the late Raymond Ackerman, and we retained a deep 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.”
Still not clear whether Pieter fell on his own sword or he was pushed by the senior management and the board of the retail group.
“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,”adds Pick n Pay Chairman.
“This was a consequence of a highly promotional trading environment, which impacted both sales growth and gross margin, and included the impact of supplier incentive income for the period being finalised at below our previous expectations,” the group said.
