PICK ’n Pay CEO Sean Summers announced yesterday that he was quitting his job after 11 years at the helm of SA’s biggest grocery chain.
Nick Badminton, group MD of the retail division, will take over in March next year.
Summers, 53, has been with the retail group for 34 years after joining it as a trainee manager in 1974. He has been CEO for more than a decade.
Pick ’n Pay chairman Raymond Ackerman said that Summers had “earned the right to make this decision after a period of particularly good growth and vastly increased shareholder value for the company�.
Pick ’n Pay had performed “incredibly well� under Summers’ leadership, Ackerman said.
Summers led Pick ’n Pay through a number of critical milestones, including an extortion crisis during 2003, the group’s entry into Australia in 2001 with its purchase of Franklins, the acquisition of Boxer in 2002, and the pending acquisition of Fruit & Veg City.
Badminton has been with Pick ’n Pay for 27 years, and was appointed MD of the retail division in 2001.
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