EDITORIAL: Christo Wiese looms large over Shoprite discord
Fractured board is more likely to distract management than provide the support it needs
Shoprite CEO Pieter Engelbrecht is doing remarkably well with the extremely difficult situation facing the group. It’s not just that the SA economy is struggling through the toughest conditions in decades, trading in the rest of Africa has been hit by the consequences of weak commodity prices, forcing management to implement some tough cost-cutting measures.
Given these conditions, Engelbrecht and his management team might have hoped the board would provide some support. Unfortunately for management, the board seems to be suffering its own challenges and is likely to present distraction instead of support. ..
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