PIK - Pick `n Pay Stores Ltd - Appointment of Nick
PIK
PIK
PIK - Pick `n Pay Stores Ltd - Appointment of Nick Badminton as CEO
Pick `n Pay Stores Ltd
(Incorporated in the Republic of South Africa)
(Registration number 1968/008034/06)
Share code: PIK ISIN: ZAE000005443
(Cape Town, 01 March 2007) Pick `n Pay Stores Chairman Raymond Ackerman
announced today that Nick Badminton has been appointed Chief Executive Officer
and appointed to the board effective 01 March. He replaces Sean Summers, who
resigned from the board on 28 February. Badminton will remain in charge of the
Pick `n Pay Retail Management Board and will therefore retain the
responsibilities of the Managing Director of Pick `n Pay Retail.
Said Ackerman: "Nick has been with the company for 27 years and his performance
as MD of Retail has been exemplary. Since becoming Retail MD in 2001, we have
seen our core retail division producing strong earnings growth under his
stewardship.
"Nick and his management team have concentrated on evolving Pick `n Pay and
increasing its footprint at the same time. Greater numbers of both corporate and
franchise stores have given us greater exposure to the market in some key areas,
and franchising has consistently delivered strong performances."
Badminton, 45, joined Pick `n Pay in 1979 as a trainee manager. He became GM of
the Western Cape in 1994, was appointed to the Retail Board in 1998 and became
Retail MD in 2001.
For further information, please contact Tamra Veley on 083 251 3658.
Cape Town
Sponsor: Investec Bank Limited
Date: 01/03/2007 09:01:33 Produced by the JSE SENS Department.
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