Raymond Ackerman News Today

With the Pick n Pay group in some difficulty currently, Gareth Ackerman was brutally honest in a presentation to shareholders this week.

Plagued by market share losses to rivals, Pick n Pay, South Africa's once-leading grocer, faces a strategic overhaul led by its new CEO.

After almost six decades, the Ackerman family will give up control of Pick n Pay.




The Ackerman family, which founded South Africas Pick n Pay, will relinquish control of the struggling retailer as part of a revamp aimed at stemming losses, cutting debt and regaining market share. ...

Ackerman voting control to fall slightly below 50%, family relinquishes right to nominate chair, CEO and CFO

New CEO of South Africas third biggest grocery retailer Pick n Pay announced on Monday that over 100 loss-making core supermarket stores will either be closed or converted, in a group-wide... -May 27, 2024 at 11:12 am EDT - MarketScreener

The decision of the Ackerman family to relinquish control of Pick n Pay is generous. Legally, there was nothing obliging the family to make this concession.

Last week, two events clarified the economic trajectory of South Africa and how the previously unthinkable has now become reality.

Build One South Africa leader Mmusi Maimane has gushed over his wife of 18 years - Natalie - on Valentine's Day.

Following in the footsteps of former Pick 'n Pay CEO Raymond Ackerman's, new CEO Sean Summers has transformed the company.