Page 5 - Gareth Ackerman News Today

Pick n Pay has announced that Pieter Boone is stepping down as Group CEO and will be replaced by Sean Summers.

Sixteen years after leaving the company he ran for over a decade, 70 year-old master retailer Sean Summers is returning to lead Pick 'n Pay.

The board believes Sean Summers can steer the retailer back to its glory days of dominance in the grocery retail space.

Pieter Boone has stepped down as CEO of the grocery retailer Pick n Pay with immediate effect.

Sixteen years after leaving the company he ran for over a decade, 70 year-old master retailer Sean Summers is returning to lead Pick 'n Pay.

JOHANNESBURG, (Reuters) - South African grocery retailer Pick n Pay's  shares tumbled almost 15% on Monday after its CEO stepped down and the company said it would post an interim loss. The exit of its CEO Pieter Boone comes as the retailer has been struggling to retain market share that it lost to bigger rival and…

After leaving Pick n Pay in 2007, its former highly successful CEO is returning to help turn the group around.

The retailer’s share price plummeted on Monday after it issued a dire profit warning.

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The Consumer Goods Council, though, says the commission is looking for collusion in the wrong place, because rolling blackouts, local government and a range of external factors are causing the rising prices of food. The Consumer Goods Council, though, says the commission is looking for collusio...