CHRIS GILMOUR: Massmart’s plan may gain traction in second half of financial year
CEO Mitchell Slape’s restructuring programme could yield results soon, provided the lockdown does not bite again
Massmart CEO Mitchell Slape is an alumnus of Thunderbird University in Arizona, US. With 10 months in the Massmart hot seat, he has achieved a lot and rescued the retailer from the downwards spiral in which it found itself a couple of years ago.
In the 1960s Supermarionation puppet series called Thunderbirds, an organisation called International Rescue uses hi-tech transport to save life when conventional methods have failed. It has recently returned to the screens, and the analogy with Slape and his mother-ship Walmart is clear. Walmart has the resources and the technology to save Massmart. But it doesn’t have endless patience and after 10 years of ownership of Massmart, it should be seeing results. ..