CHRIS GILMOUR: Foreign CEOs at SA retailers shows lack of faith in home-grown talent
The old belief that imported executives are better than local ones persists as Pick n Pay appoints a German retailer as its new head
With the announcement by Pick n Pay of German retailer Pieter Boone as the replacement for retiring incumbent Richard Brasher, it struck me that SA retailers have had more than their fair share of foreign CEOs over the years.
The results have been mixed, with no clear indication that the foreign appointees have done consistently better than their local counterparts. Only Clicks and Pick n Pay can honestly say that their foreign CEO appointees have been consistently successful. ..