The family’s decision to relinquish control over the grocery retailer gives their new chief executive more room to turn the business around
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The announcement comes after another disappointing set of results, in which the group reported a massive decline in its trading profit
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The old trade winds are blowing again and we must take notice, writes editor-in-chief Ron Derby
The retailer released a grim set of results on Wednesday, which saw its shares plummet more than 14%
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The prodigal son’s return may usher in a new era for the retailer, which has languished under the Ackerman family’s control
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The retailer announced that outgoing Pick n Pay chief executive Pieter Boone would be replaced by Sean Summers, who led the company from 1999 to 2006
The retail giant was known for his role in opposing apartheid-era labour restrictions. But as economic conditions became tough, so did Pick n Pay
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The retail group Ackerman founded described him as a ‘visionary South African’ in a statement released on Thursday
Pick n Pay’s chairperson has called out government’s inaction on resolving the country’s structural economic decline
‘Most days, however, looking at it from my side of the fence, the idea of a parent company is somewhat jaded’
A total of 54 people will receive national orders from President Jacob Zuma in a ceremony themed "South Africa: A better place to live in".
New Pick n Pay chief executive Richard Brasher wants the retailer to regain its position as South Africa’s market leader.
Cosatu is to picket outside the houses of Pick n Pay chairperson Raymond Ackerman and Western Cape premier Helen Zille over the Walmart-Massmart deal.
Raymond Ackerman, the founder and until now the chairperson of Pick n Pay, handed the keys to his kingdom to his older son Gareth on Wednesday.