Pick n Pay Chairman Gareth Ackerman has announced that Richard Brasher will retire as chief executive of Pick n Pay with effect from April 21.

Brasher joined the retailer eight years ago. He will be succeeded as chief executive on that date by Pieter Boone, former chief operating officer of Metro AG.

Ackerman said, “We are naturally very sad to be announcing Richard’s departure. He has led a remarkable turnaround in our company, and the Pick n Pay Group is immeasurably stronger now than when Richard took over in 2013”.

According to the Pick n Pay Chairman, Brasher delivered consistent and sustainable profit growth, modernising the Pick n Pay business, expanding what the retailer offers and transforming efficiency.

Ackerman also attributes the transformation of Boxer into Africa’s fastest-growing limited range discounter to Brasher.

Brasher said this is in many ways a sad day for me, but also an exceptionally proud one.

He said, “I have worked in retail now for 35 years. I have held the highest office in two great retailers, and have had a truly memorable career”.

“I am extremely grateful to my team and the whole Pick n Pay and Boxer family for helping me to deliver this goal. I want to thank every colleague in Pick n Pay and Boxer for standing shoulder to shoulder with me for the past eight years.”

On his successor, Brasher said he was excited for Boone and the future of the Pick n Pay Group.

Ackerman said he was delighted Boone would succeed Brasher as chief executive.

“Pieter has exceptional global retail experience. His wide-ranging experience will stand him in very good stead across all areas of the Pick n Pay business, including Boxer and franchise, our growing online offer, and our value-added services,” said Ackerman.

On joining Pick n Pay Boone said, "I am delighted to be joining the Pick n Pay team at this time. My job will be to ensure that the Pick n Pay Group is at the forefront of change – earning the lifetime loyalty of more customers by giving them more, better and new ways to shop with Pick n Pay and Boxer.

“I feel privileged and humbled by the confidence placed in me by Gareth Ackerman, the Board of Directors and the Ackerman family to lead this esteemed company into the next phase of its journey.”

BUSINESS REPORT ONLINE