Massmart’s new CEO, Mitchell Slape, will use cost savings to drive sales at the struggling retailer as he takes a leaf out of the Walmart playbook.

Slape, who took up the post in September, is the first Walmart executive to head the company since the world’s largest retailer became the leading shareholder in the SA business in 2012. Since then, Massmart has lost about 70% of its market value.

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