According to an announcement by Pick n Pay (JO: PIKJ) retail giant, on Monday, Pieter Boone, the CEO of the company, has officially resigned, effective as of September 30.
Sean Summers, who had previously served the group between 1974 and 2007, rising to the positions of Managing Director in 1996 and CEO in 1999, is returning to Pick n Pay and will immediately step into the role to replace Pieter Boone. During his previous tenure, Pick n Pay held a dominant position as the grocery market leader in South Africa. In the coming weeks, Sean Summers will relocate to South Africa, analyze the business, and engage with staff and customers.
Gareth Ackerman, the Chairman, expressed gratitude to Pieter Boone for his dedication during his two-and-a-half-year tenure as CEO. Ackerman acknowledged that Boone assumed the leadership role during the height of the COVID-19 pandemic and successfully navigated the business through extraordinary challenges, including transitioning out of pandemic-related lockdowns, dealing with unprecedented civil unrest in 2021, and addressing the current power load-shedding crisis.
Despite these challenges, Pieter Boone initiated and led the launch of the company’s Ekuseni strategic plan. During his leadership, Pick n Pay saw significant growth in its Boxer, Clothing, and Omnichannel segments and introduced the QualiSave brand.
However, Ackerman noted that the performance of the core Pick n Pay business had been challenging in recent months and had not met expectations. The board made the decision for a leadership change, which Pieter Boone accepted with the company’s gratitude and best wishes for the future.
Ackerman expressed delight in Sean’s return, highlighting his unparalleled knowledge and experience. He emphasized Sean’s passion for restoring Pick n Pay’s growth trajectory and winning the trust and confidence of both existing and new customers, making him the ideal leader for the current situation.
Sean Summers also expressed his excitement about returning to Pick n Pay, emphasizing his passion for the retail industry and his commitment to leading the company back to its rightful position.
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