Wendy Lucas-Bull to fill Christo Wiese’s chair, but he still holds voting power
Lucas-Bull, currently chair of Absa Group, will take over in mid-November as shareholders finally see Wiese move aside
Shoprite has named the Absa Group chair as its chair-designate, handing the retailer its first female chair and ending Christo Wiese’s 30-year old reign.
Wendy Lucas-Bull will take over from Wiese, who has been chair of the group since 1991 and helped build it into one of the continent’s largest retailers with an annual revenue of about R157bn. He will remain on the board as a nonexecutive director after its annual general meeting (AGM) on November 16.