Introduction

The Board takes overall responsibility for the performance of the Group, ensuring that it is managed in a transparent, equitable and responsible manner. Members of the Board operate as a resource for executives in directing, finalising, and overseeing the implementation of the Group's strategy and policy.

The Board and the management of the Pick n Pay Stores Group are committed to upholding the highest standards of ethics, transparency and good corporate governance while pursuing sustainable and profitable growth. The Group's commitment to good corporate governance permeates every aspect of the management structure.

Our corporate governance philosophy and practices are aligned with the four governance outcomes advocated by King IV, namely:

growth icon

Ethical culture

healthier icon

Legitimacy

customer icon

Effective control

customer icon

Good performance

Board members

  • Gareth Ackerman
    Gareth Ackerman 65
    Non-Executive Board Chair
    BSocSci, CMS and AMP (Oxon)
    FULL BIO

    Appointed 1990

    Years of service to the Group: 39
    Years of service on the Board: 33
    Chair of the Nominations and Corporate Governance Committee
    Chairman of the corporate governance committee, the nominations committee and the Employee Share Incentive Trust

    An Executive at Pick n Pay for 15 years until 1999, Gareth headed up various divisions and served as Joint Group Managing Director and the Managing Director of Pick n Pay Group Enterprises. He was appointed to the Board in 1990 as an executive director, until becoming a Non-Executive Director in 1999. From 2002 to 2010 Gareth was Chair of Pick n Pay Holdings Limited, which at that time was the ultimate holding company of the Group. In 2010 he was appointed Non-Executive Chair of Pick n Pay Stores Limited.

    Among his other involvements, Gareth is co-chair of the Consumer Goods Council of South Africa and is previous co-chair of the international Consumer Goods Forum. Gareth sits on the Board of Business Unity South Africa and is also a trustee of the Masisizane Fund and was a member of the international board of the Young Presidents' Organization (YPO). He chairs the Ackerman Family interests.

    Committee membership
    • Remuneration committee
    • Nominations and Corporate governance committee (Chair)
  • Pieter Boone
    Sean Summers
    Chief Executive Officer (CEO)
    Appointed 2023
    FULL BIO

    Appointed 2023

    CEO

    Sean Summers worked for the Group between 1974 and 2007, rising to become Managing Director in 1996, and CEO in 1999. He left the Group in 2007 and advanced his career in international retailing. He has a unique understanding of the business and South African grocery retailing and was reappointed as CEO of the Pick n Pay Group in October 2023.

    Committee membership
    • Executive Committee
  • Lerena Olivier
    Lerena Olivier 47
    Chief Finance Officer (CFO)
    CA(SA) – Appointed 2019
    FULL BIO

    Appointed 2019

    Years of service to the Group: 12
    Years of service on the Board: 3
    CFO

    Lerena joined the Group 12 years ago, taking responsibility for Group financial reporting and the finance team. During her 20 years of experience in JSE listed companies in the retail sector, Lerena has gained expertise across a number of key business areas, including finance, risk management, strategy, information systems, value added and retail related financial services, accounting and tax.

    Committee membership
    • Executive committee
  • Jonathan Ackerman
    Jonathan Ackerman 56
    Non-Executive Director
    BA Marketing – Appointed 2010
    FULL BIO

    Appointed 2010

    Years of service to the Group: 30
    Years of service on the Board: 13
    Non-Executive Director

    Returning to South Africa after studying and working in the USA, Jonathan joined the Group in 1992. Over a distinguished career with the Group, Jonathan held key leadership roles, most notably in marketing and store operations. Jonathan was appointed to the Board as a representative of the controlling shareholder in March 2010, and as the Group's director of Values he ensured that the well-being of customers was the primary motivating factor for any strategic decision taken in the Group. Jonathan retired as an executive director on 31 March 2023 and has served as a Non-Executive Director from that date.

    Committee membership
    • Social, Ethics and Transformation Committee
  • Suzanne Ackerman-Berman
    Suzanne Ackerman 60
    Non-Executive Director
    BA – Appointed 2010
    FULL BIO

    Appointed 2010

    Years of service to the Group: 28
    Years of service on the Board: 13
    As Executive Director: 12
    As Non-Executive Director: 1
    Chair of the Social, Ethics and Transformation Committee
    Non-Executive Director

    Following broad executive experience in the Group, Suzanne was appointed Director of Transformation in 2007. In addition to her executive contribution to the Group, she was appointed to the Board as a representative of the controlling shareholder in March 2010. Suzanne retired as an executive director on 31 March 2022, on which date she was appointed to the Board as a Non-Executive Director.

    Suzanne holds the position of International Professor of Practice at the Rutgers School of Business-Camden (United States), where she lectures to undergraduate and graduate students and members of the business community in New Jersey and Philadelphia. Suzanne also remains active in many areas of philanthropy across different sectors of society. In particular, she is a passionate proponent of enterprise development and acts as advisor and mentor to the Pick n Pay Enterprise Development division. Suzanne is the Founder and a Trustee of the Feed the Nation Foundation, Chair of the Ackerman Pick n Pay Foundation, a Trustee of the David Sussman Community Forum and a Trustee of the Smile Foundation.

    Committee membership
    • Social, Ethics and Transformation Committee (Chair)
    • Nominations and Corporate Governance Committee
  • David Robins
    David Robins 69
    Non-Executive Director
    BBusSci – Appointed 2002
    FULL BIO

    Appointed 2002

    Years of service to the Group: 29
    Years of service on the Board: 21
    Non-Executive Director

    David joined the Group in 1994 and was appointed in 2005 as the executive responsible for expansion outside South African borders. In 2002 he was appointed as Deputy Chair of the Group and as an Executive Director. During 2008 he retired from his Executive position. He remains on the Board as a Non-Executive Director and as a representative of the controlling shareholder.

    Committee membership
    • Social, Ethics and Transformation Committe
  • Aboubakar (Bakar) Jakoet
    Aboubakar (Bakar) Jakoet 67
    Independent Non-Executive Director
    CA(SA) – Appointed 2019
    FULL BIO

    Appointed 2019

    Years of service to the Group: 37
    Years of service on the Board: 3 (as Non-Executive Director)
    Years of service on the Board: 9 (as Executive Director)
    Other listed company directorships: Oceana Group Limited and Sygnia Asset Management
    Chair of the Audit, Risk and Compliance Committee
    Independent Non-Executive Director

    Following his 34-year career in the finance team of the Group, Bakar retired as CFO and Executive Director in September 2019. Given his extensive experience in retail, strategy, tax and finance, the Group is privileged to retain his expertise and experience in his capacity as a Non-Executive Director.

    Committee membership
    • Audit, Risk and Compliance Committee (Chair)
    • Remuneration Committee
    • Corporate Finance Committee
  • David Friedland
    David Friedland 69
    Independent Non-Executive Director
    CA(SA) – Appointed 2013
    FULL BIO

    Appointed 2013

    Years of service on the Board: 10
    Other listed company directorships: The Foschini Group Limited
    Independent Non-Executive Director

    David was the audit engagement partner and lead/relationship partner at Arthur Andersen and KPMG for several listed companies, as well as large owner-managed companies, principally in the retail sector. David served on the Boards of Investec Limited and Investec plc until August 2022.

    Committee membership
    • Audit, Risk and Compliance Committee
    • Nominations and Corporate Governance Committee
    • Corporate Finance Committee
  • James Formby
    James Formby 53
    Lead Independent Non-Executive Director
    CA(SA) – Appointed 2022
    FULL BIO

    Appointed 2022

    Years of service on the Board: 1
    Other listed company directorships: Vukile Property Fund Limited
    Lead Independent Non-Executive Director

    James was appointed to the Board in October 2022, following his retirement as CEO of the RMB group. James had a successful 25-year career with RMB, holding a number of senior leadership roles over his tenure including in corporate finance and investment banking. James' transactional skills and his ability to structure large deals made him a core member in many BBBEE transactions, IPOs, de-listings, mergers, acquisitions, and disposals over his tenure with RMB. As CEO, James played a significant role in developing RMB's strategy.

    Committee membership
    • Audit, Risk and Compliance Committee
    • Corporate Finance Committee
  • Audrey Mothupi
    Audrey Mothupi 53
    Independent Non-Executive Director
    BA (Hons) – Appointed 2013
    FULL BIO

    Appointed 2013

    Years of service on the Board: 10
    Other listed company directorships: Life Healthcare Group, Altona plc (listed on the Aquis Stock Exchange)
    Chair of the Remuneration Committee
    Independent Non-Executive Director

    Audrey is the Chief Executive Officer of the South African-based SystemicLogic Group, a global financial innovation, data and technology disruptor, specialising in emergent business models. Audrey's experience spans across various business domains including group strategy, talent design, marketing and communication as well as data, technology and innovation. Prior to SystemicLogic Group, Audrey was the head of inclusive banking at Standard Bank Group.

    Committee membership
    • Remuneration Committee (Chair)
    • Audit, Risk and Compliance Committee
    • Nominations and Corporate Governance Committee
    • Corporate Finance Committee
  • Mariam Cassim
    Mariam Cassim 41
    Independent Non-Executive Director
    CA(SA), MBA – Appointed 2020
    FULL BIO

    Appointed 2020

    Years of service on the Board: 3
    Independent Non-Executive Director

    Mariam Cassim is the Chief Executive Officer of Vodacom Financial and Digital Services and a member of the Vodacom Group's Executive Committee.

    Mariam's professional experience includes Corporate Finance and Deal Structuring, Mergers and Acquisitions, Debt Structuring and Commercial Evaluation. Her flair for innovation, disruption and new business development allows Mariam to generate creative business solutions that have a strong purpose element and thereby benefit business as well as society. Mariam served on the board of Super Group Limited until December 2020.

    Committee membership
    • Audit, Risk and Compliance Committee
    • Corporate Finance Committee
  • Haroon Bhorat
    Haroon Bhorat 54
    Independent Non-Executive Director
    PhD in Economics – Appointed 2020
    FULL BIO

    Appointed 2020

    Years of service on the Board: 3
    Other listed company directorships: Sygnia Asset Management (independent non-executive Chair)
    Independent-Executive Director

    Haroon is Professor of Economics and Director of the Development Policy Research Unit at the University of Cape Town. He is currently a member of the Presidential Economic Advisory Council (PEAC), established in 2019 by President Ramaphosa to generate new ideas for economic growth, job creation and addressing poverty in South Africa. Haroon is the Independent Non-Executive Chair of Sygnia Asset Management and is also Chair of the Nimble Group. Haroon is a Non-Resident Senior Fellow at the Brookings Institution - the world's leading global think tank. He was recently invited to join the UCT College of Fellows. He is a member of the executive committee of the International Economic Association. His career appointments include serving as an economic advisor to former Minister of Finance Pravin Gordhan and to former presidents Thabo Mbeki and Kgalema Motlanthe, formally serving on the Presidential Economic Advisory Panel.

    Committee membership
    • Audit, Risk and Compliance Committee
    • Remuneration Committee
    • Nominations and Corporate Governance Committee
    • Corporate Finance Committee
  • Annamarie van der Merwe
    Annamarie van der Merwe 59
    Independent Non-Executive Director
    B.Juris, LLB, LLM, EMP – Appointed 2020
    FULL BIO

    Appointed 2020

    Years of service on the Board: 2
    Independent Non-Executive Director

    Annamarie is the Executive Chair of the FluidRock Governance Group, a business that she co-founded approximately 17 years ago. Annamarie has been a corporate lawyer and company secretary of companies in the listed environment for more than 30 years. She was until late 2020 a member of the King Committee on Corporate Governance for South Africa and was actively involved in the writing of King II, III and IV with a particular focus on the sections dealing with the functioning of boards and responsibilities of directors. Annamarie serves as a member of the JSE Advisory Committee. She is a well-known presenter of workshops on issues such as board effectiveness, good corporate governance and statutory duties and liabilities faced by boards and individual directors. Annamarie acted as a facilitator for the IoDSA for more than 16 years and currently chairs the board of the Bureau of Food and Agricultural Policy NPC (BFAP) as well as the Vastfontein Community Transformation NPC.

    Committee membership
    • Nominations and Corporate Governance Committee
    • Corporate Finance Committee
    • Social, Ethics and Transformation Committee
  • Wendy Ackerman
    Wendy Ackerman
    Years of service: 56
    FULL BIO
    Years of service: 56

    Wendy is one of the founding executives of Pick n Pay. She was appointed to the Board in 1981. She retired from the Pick n Pay Stores Limited Board in 2010. She remains integral to employee liaison, employee benefits and the management of extensive bursary funds. Mrs Ackerman has been widely recognised for her contribution to education, arts and culture, and environmental conservation throughout South Africa.

  • Penelope Gerber
    Vaughan Pierce
    Company Secretary
    BA, LLB, LLM – Appointed 2024
    FULL BIO

    Appointed 2024

    Company Secretary

    Vaughan Pierce (BA) (LLB) (LLM) has served as Senior Legal Advisor for the Group for 13 years. During his tenure, he has performed a number of other key roles, including as Vice Chairperson of the Pick n Pay Medical Aid Scheme and as Trustee on the Ackerman Pick n Pay Foundation and Feed the Nation Foundation. Vaughan assumed the role of Executive for ESG for the Pick n Pay Group two years ago, and he continues to oversee the integration of environmental, social and governance considerations across the Group's operations.


Board committees

The Board is supported by the Executive; Audit, Risk and Compliance; Remuneration; Nominations and Corporate Governance; Corporate Finance; and Social, Ethics and Transformation committees. The Board's delegation of authority to these committees contributes to role clarity and the effective exercise of authority and responsibilities within the broader Group.

These committees report to the Board on their activities in line with their delegated powers and authority, as set out in the corporate governance report.

Members

A Jakoet (Chair)

H Bhorat

M Cassim

D Friedland

J Formby

A Mothupi

The committee provides independent oversight and assessment of the Group’s risk management processes, legal and regulatory compliance, financial reporting, business and financial controls, and internal and external audit processes and acts as a liaison between the Board and external and internal auditors.

View our Audit, Risk and Compliance Committee Report for full details - 271KB

Members

G Ackerman (Chair)

S Ackerman

H Bhorat

D Friedland

A Mothupi

A van der Merwe

The committee is responsible for identifying and evaluating suitable candidates for possible appointment to the Board and its committees, and ensuring that the governance procedures, practices and structures of the Board and its committees are effective, appropriate and aligned with relevant local and international codes and best practices. In addition to scheduled meetings, the nominations committee holds ad hoc meetings with all the Non-Executive Directors to discuss and guide succession plans and committee membership.

View our Nominations and Corporate Governance Committee Report for full details - 418KB

Members

S Ackerman (Chair)

J Ackerman

D Robins

A van der Merwe

The committee, supported by key management personnel, is tasked with ensuring that the Group's enduring values underpin the Group's long-term strategy and are applied daily in all areas of the business, and that our sustainability strategy is closely aligned with the United Nations Sustainable Development Goals most relevant to our business.

View our Social, Ethics and Transformation Committee Report for full details - 405KB

Members

A Mothupi (Chair)

G Ackerman

H Bhorat

J Formby

A Jakoet

The remuneration committee ensures that the Group's remuneration policy promotes the achievement of Group strategy, by providing fair and responsible rewards that attract, reward and retain a winning team.

View our Remuneration Committee Report for full details - 2MB

Members

J Formby (Chair)

H Bhorat

M Cassim

D Friedland

A Jakoet

A Mothupi

A van der Merwe

The committee consists of the independent Non-Executive Directors who are not representatives of the controlling shareholder. It assists the Board in assessing material investment opportunities for the Group, as identified in the Group's long-term strategy.

View our Corporate Finance Committee Report for full details - 216KB

Members

S Summers (CEO)

L Olivier (CFO)

The executive committee is tasked with implementing the strategy of the Board. It serves as the Chief Operating Decision Maker (CODM) of the Group, managing the day-to-day operations of the Group, to ensure sustainable value creation for all stakeholders. The executive committee meets regularly.