Pick n Pay shares drop following group CEO resignation

File: A general view of a Pick n Pay outlet. eNCA

JOHANNESBURG - Pick n Pay’s share dropped slightly following the resignation of Group CEO, Richard Brasher.

He is retiring after serving as leader for eight-years.

Brasher was set to retire in 2020 but chose to stay on, in the wake of the instability brought on by COVID-19.

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During his reign, the company’s store network almost doubled.

The giant retail chain, which also owns Boxer, saw a turnover increase from R55-billion to R90-billion during his tenure.

Pieter Boone, former Chief Operation Officer at, Metro will succeed Brasher. 


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