Retail major Pick n Pay has confirmed that no member of the founding Ackerman family will sit on the board of its cash cow, Boxer, after it unbundles from the group in the next few months.

This is as the family retreats from the control it has exercised over the group for nearly six decades. Earlier in 2024, Pick n Pay made a decision to spin off Boxer as part of its recapitalisation plan to keep the company afloat...

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