Fin24

New CEO for Pick n Pay

2012-10-03 09:43

Johannesburg - Pick n Pay Stores [JSE:PIK] announced on Wednesday that after an extensive international search, it has appointed Richard Brasher, the former Tesco board member, as Pick n CEO effective from February 2013.

Brasher, 51, was a leading member of the top team and main board of Tesco, who transformed the company into a global retailer and took Tesco to clear market leadership in the UK with a market share in excess of 30%.

Pick n Pay chairperson Gareth Ackerman said the company was "extremely fortunate" to have secured Brasher, who has had a 25-year career, during which time Tesco has expanded both domestically and internationally and become a benchmark on many aspects of retailing.

Tesco UK is a £47bn business generating a trading profit of £2.5bn, is the largest private employer in the UK and runs over 2 800 stores.

Prior to becoming CEO of Tesco UK, Brasher was the group commercial director where, among other achievements, he created Tesco's International sourcing operation around the world and was responsible for the company's entire supply base. He transformed Tesco's non-food operation and was instrumental in the development of Tesco's own-brand strategy from “Every day value” to “Finest”.

Brasher also created the modern convenience food category in the 1990s and developed “Clubcard” to be the benchmark supermarket loyalty programme. He  was also one of the key architects of Tesco's format strategy, from Extras to online.

Ackerman said that Brasher's experience would stand him in good stead across all major areas of the Pick n Pay business, including Pick n Pay’s smart shopper loyalty programme, now with 5.7 million members, its private label business and its online shopping facility.

Having produced a blueprint for the future strategy for the UK business, Brasher decided to step down from the board of Tesco earlier this year.

Said Brasher: "Pick n Pay is a dynamic, innovative business with a proud and impressive history. I'm both excited and honoured to be joining the company at an important time in its development and believe there is a lot I can offer with my experience in the retail market".

Said Ackerman: "Richard has a singularly impressive track record. We are delighted he has agreed to join us as Pick n Pay’s new CEO. The executive search was exhaustive, and given his background, experience, expertise and array of innovative achievements, he was the natural choice".

Pick n Pay shares rose 4.42% to R46.29 in Wednesday morning trade.


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Comments
  • tammy.petersen.73 - 2012-10-03 10:42

    Dont shop at picknpay anymore now that foodlovers market is in the same mall,you cant compare the quality and price difference.

      donald.rohland - 2012-10-03 11:39

      There might appear to be a visible saving on prices but you cannot equate the Foodlovers quality to Pick'n Pays outstanding record of always supplying the best at fair prices.o so P'n P have always placed the consumers needs top of the list and will always do so.

      tammy.petersen.73 - 2012-10-04 15:48

      Well i dont know about the pick n pay by you but the one in Sun Valley is digusting.Food is old and expensive.Not to mention the service.I get discounts with Vitality but Food lovers is definetly the better shop especially meat products.

  • hendrikvs - 2012-10-03 10:50

    Excellent move PnP. Supporting you more than before after stopped shopping at the Woolworths thieves. So it can only get better with you at the top!

  • tiaan.truter - 2012-10-03 10:57

    dont see why this is even on News24...but thanks for the useless news of the day.

      mark.ross.779 - 2012-10-03 11:40

      I'll never get why people take the time to click on an article, read it and then take the time to comment on how 'irrelevant it is to their lives'.. Come on bro, don't you see the futility there?

      ruan.vanrhyn - 2012-10-03 11:43

      I'm curious - how is this not newsworthy? It is only the 2nd biggest retailer in SA, probably the whole of Africa. And everyone and their dog probably knows the history of Pick n Pay and the Ackerman family.

  • martin.marais.90 - 2012-10-03 11:01

    Soon you will see a Tesco (uhhh P&P) on every street corner destroying the little man's grocery stores as they have done here in the UK!

  • teddy.beer.319 - 2012-10-03 12:43

    ('Warning':I think am biased). Despite globalisation and all, I surely believe one of our own ZA chaps could do the job. What the fella did in the UK may not translate to success here, just as a ZA joke may not be funny up there. Our national competitiveness may be found in our people. Its like taking an ex-GM boss to run Toyota. I don't think shares would rise. Does the chap know how our boerewors is made and enjoyed and how it can build or destroy a store?

      lindela.e.mtshali - 2012-10-04 05:16

      I think the choice is motivated by the fear of Walmart behemoth with it's formidable expertise global supply chain management. I would call in the big boys too! I know local South Africans have taken on the beer market and they are now number two in the world. I think PnP should take the game to Walmart. May the best man win!

  • Stanley Sidumo - 2013-06-06 10:03

    Sorry but u have to talk to ur receiving clerks. Poor service.

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