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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...