×

We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

Whitey Basson will be succeeded as Shoprite CEO by chief operating officer Pieter Engelbrecht on January 1, the grocery chain announced at its annual general meeting on Monday morning. "Basson’s decision to retire will bring to a close a remarkable career of nearly 45 years, virtually all of which was spent with Shoprite, in which the business grew from a small eight-store chain with a value of R1m to a globally respected retailer with a market capitalisation of R114bn, and over 140,000 employees today," Shoprite said in a statement. Shoprite chairman Christo Wiese said Basson had spearheaded Shoprite’s pioneering expansion into the rest of Africa after 1994. "He also successfully acquired and integrated Grand Bazaars, Checkers and OK Bazaars. He fully deserves his reputation as one of SA’s ‘retail giants’." Engelbrecht, 47, is a 20-year veteran of the Shoprite group. Basson will remain with Shoprite as nonexecutive vice-chairman, available to management to ensure an orderly leaders...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now