Pick n Pay has confirmed a significant change to its executive team, revealing on Monday (1 December 2025) that chief financial officer Lerena Olivier will leave her role after next year’s annual general meeting. Her departure comes as the retailer faces deepening losses and intensifying rivalry in the grocery sector.

To ensure continuity, the group has brought in Tina Rookledge — formerly a regional managing partner at EY in the Western Cape — who will join the business in February 2026. After a formal transition period, she is set to assume the CFO position in August.

The retailer, one of South Africa’s largest supermarket chains, is pushing to reverse its financial decline and has set a target to return to breakeven by 2028. It continues to face strong pressure from competitors such as Shoprite and Woolworths.

This leadership transition forms part of a broader turnaround effort, which centres on improving operational execution, building sustainable growth pathways, and delivering enduring value for shareholders.

Olivier, who has served as CFO since 2019, will not be leaving the business altogether. Pick n Pay said she will move into an executive role focused on key initiatives linked to the company’s recovery plan.

During her tenure, Olivier guided the retailer through several major crises, including the Covid-19 pandemic, the 2021 KwaZulu-Natal unrest, and a two-phase recapitalisation undertaken in 2025.

Pick n Pay said Rookledge’s extensive financial and management experience will be instrumental in driving its turnaround strategy, notably in strengthening operations, supporting sustainable expansion, and building long-term value across the group.

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