Skip to main content

Pick n Pay appoints Lerena Olivier as new finance chief

| On the move

Pick n Pay says finance executive Lerena Olivier will take over as CFO when Bakar Jakoet retires on September 6.

“Lerena has been a senior executive within Pick n Pay’s group finance division for the past eight years, where she has worked very closely with the current CFO,” the retailer said on Wednesday.

Jakoet, Pick n Pay’s finance chief since 2011, announced his retirement in April.

Pick n Pay said Olivier’s appointment followed “an extensive search” internally and elsewhere.

“She has a very strong background in finance, risk management, strategy, accounting and tax, and her expertise and experience equip her extremely well for her new role as group CFO.”

After he retires from his executive position, Jakoet will remain on the board in a nonexecutive capacity.

In April, Pick n Pay said net profit rose by about a fifth in the financial year to March 3, even as its operations outside SA stumbled.

The group said its stores targeting SA’s lower-to-middle-income consumers performed well, while sales were also boosted by “a more competitive price position” and a better fresh-produce offering.




Pin It

Related Articles

Petshop Science has partnered with Sixty60, South Africa’s number 1 on-demand delivery service, to offer same-day delivery within precisely scheduled 60-minute timeslots of a wide range of specialised pet food, treats, toys and vet-approve…
This Youth Month, the Shoprite Group celebrates fearless employees like Nosihle Mohunu, a 29-year-old truck driver from KwaZulu-Natal who’s not just steering 22-wheelers, but also shifting perceptions and inspiring a new generation of young South Af…
 The SPAR Group announces that Max Oliva has decided to step down from his role as CEO of SPAR South Africa after an exceptional 30-year career with the business.
Amazon South Africa announced a significant expansion of its product offering with the launch of three popular Everyday Essentials categories: Groceries, Pet Food, and Vitamins and Supplements. This selection enhancement brings thousands of new…
On-demand shopping is evolving rapidly in South Africa as competition intensifies for consumers seeking quality, affordable prices, and speed at the touch of a button.