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

Somerset West’s WCafe Waterstone now has a liqu...

WCafe Waterstone is bigger, better and now, open much later, with a new menu to tempt all foodies.

Woolworths Foods gets new CEO as Rylands confir...

By:  Helena Wasserman – News24 Zyda Rylands, the CEO of Woolworths Foods, will be leaving the company at the end of August, the group confirmed on Thursday (14/03/2024).

Checkers is printing money with Sixty60

By: Bianke Neethling - MyBroadband Since launching in 2019, Shoprite’s Checkers Sixty60 on-demand grocery delivery service has shown exceptional growth and generates an estimated R10 billion annually.

Spar has big plans for its electrified Checkers...

By: Myles Illidge – MyBroadband Spar has a fleet of 65 electrified vehicles delivering goods through the retailer’s rapid online delivery service, and a combination of grid and solar power charges them. Blake Raubenheimer, omnichannel executive...

FNB says you can now earn eBucks rewards from S...

By: Ashley Lechman – Business Report One of the country’s largest and popular bank’s, FNB, has announced that customers will now be able to earn eBucks at SPAR retailers.