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PIK
PIK
PIK - Pick n Pay Stores Ltd - New board appointments
Pick n Pay Stores Ltd
(Incorporated in the Republic of South Africa)
(Registration number 1968/008034/06)
Share code: PIK ISIN: ZAE000005443
NEW BOARD APPOINTMENTS
Pick n Pay Stores Limited ("Pick n Pay") is pleased to announce the appointment
of Richard van Rensburg as an independent non-executive director and Suzanne
Ackerman-Berman and Jonathan Ackerman as alternate directors of the Company.
Richard is a UCT graduate and qualified as a Chartered Accountant in 1985. After
graduating, Richard Joined Ernst and Young where he became a partner in 1988.
In 1992 Richard joined the Massmart group as IT Director, after which he was
appointed as Chief Financial Officer of Massmart Holdings and thereafter
Managing Director of Masstores (Pty) Ltd. He has also been a Board member of
Massmart, Woolworths and the Wooltru Group.
In 1996 Richard founded an Information Technology Services Company called
Affinity Logic (supplying and servicing retail focused businesses) which grew to
350 people with a turnover of R250 million per annum. In 1998 Datatec purchased
50% of the company and in 2003 Affinity Logic was merged with UCS Solutions, a
listed IT services provider. Richard retired from the company but maintained a
vested interest in the merged group which is now the dominant player in its
market in South Africa.
Since retiring from the Affinity Logic business, Richard has became involved in
YPO culminating with his appointment to the International Board in 2006 and
elected as International Chairman for the year 2008/9. Richard also runs his own
private investment company.
As part of his duties as an independent non-executive director, Richard will
also be appointed as a member of the Group Audit, Risk and Compliance Committee.
Pick n Pay extends a warm welcome to Richard and we are confident that his wide
range of skill and knowledge will add significant weight to board deliberations.
The board also extends a warm welcome to Suzanne Ackerman-Berman and Jonathan
Ackerman who have been appointed as alternative directors to Raymond Ackerman
and Wendy Ackerman, respectively.
All three of the abovementioned appointments are effective 30 June 2009.
As part of Pick n Pay`s ongoing review of it`s board structure we will be
announcing the appointment of another Independent non-executive director in the
near future.
For more information, please contact Gareth Ackerman on 021 794 4941 or
gareth@ackerman.co.za.
Sponsor: Investec Bank Limited
29 June 2009
Date: 29/06/2009 14:00:01 Produced by the JSE SENS Department.
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