South African supermarket operator Pick n Pay has denied reports it has appointed former Tesco UK chief Richard Brasher into a senior executive role.
A spokesperson for the retailer told just-food today (2 October) that it has not made any senior executive appointments, despite UK reports Brasher has joined the group.
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Brasher decided to leave Tesco in March this year after an apparent clash with the retailer’s group CEO Philip Clarke over the company’s domestic strategy. Tesco is due to release its interim results tomorrow.
Meanwhile, in February Pick ‘n Pay, one of South Africa’s largest retailers, had reported the departure of its group CEO, Nick Badminton.
The retailer has come under increasing financial pressure, with headline EPS almost halving in the first six months of the current fiscal to 31 August, despite rising sales.
Announcing Badminton’s exit, Pick ‘n Pay said it had launched a “global search” for a new CEO, which would include internal and external candidates. In the meantime, chairman Gareth Ackerman has become executive chairman responsible for company strategy and working with the leadership team to embed the changes in the business. Deputy CEO Richard van Rensburg assumed day-to-day operational responsibility.
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By GlobalData
