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Christo Wiese, the man who helped Shoprite grow from a small supermarket chain with eight stores to the pan-African food retailer it is today, will retire as company president next month.
Shoprite said Wiese will step down as chairman of its board after the company’s annual general meeting (AGM) scheduled for November 16, but will remain on the board as a non-executive director.
Wiese has been the president of Shoprite since 1979, when Pep Stores acquired the food retailer. His retirement was first announced in November last year after 61.2% of shareholders voted against his re-election as chairman at the 2019 AGM.
Shoprite said that current Absa Group president Wendy Lucas-Bull will be named president at the board meeting that will follow this year’s AGM.
The group said Lucas-Bull’s extensive experience in banking and other sectors, as well as his experience as president and non-executive director at other companies, bodes well for Shoprite.
Wiese said that “there is no doubt that his expertise, experience and leadership will be of considerable benefit to both the Board and the Shoprite Group.”
