The Pick n Pay Board and Pieter Boone have agreed that Pieter will step down from his position as Chief Executive Officer effective 30 September. Sean Summers, a Pick n Pay veteran who ran the Group as MD and CEO for 11 years, will replace Pieter with immediate effect. Sean Summers worked previously for the Group between 1974 and 2007, rising to become Managing Director in 1996, and CEO in 1999.

He left the Group in 2007. He has a unique understanding of the business and South African grocery retailing. During his tenure, Pick n Pay was the clear grocery market leader in South Africa.

Over the coming weeks, Sean will relocate physically to South Africa, and will spend time analysing the business and meeting staff and customers. Gareth Ackerman, chairman of the Pick n Pay Group, said: "We are delighted that Sean is coming back to Pick n Pay. His knowledge and experience are unrivalled.

He is passionate about getting Pick n Pay back on to the right trajectory, and winning the trust and confidence of customers new and old. He is absolutely the right person for the job at this time".