BOARD DIRECTOR NOMINATED
Shoprite investor group moves against Christo Wiese’s dominance
First shareholder nominated to the Shoprite board comes amid growing concerns about the lack of experienced retailers among its directors
Months after Shoprite shareholders blocked a bid by chair Christo Wiese to bank a R3.4bn payout for his controlling stake in Africa’s largest grocery retailer, a group of concerned investors has made a bid to beef up the board.
But the unprecedented bid by shareholders to nominate a director to the board at the annual general meeting on November 4 might be thwarted by the JSE listing requirements.