Pick n Pay CEO resigns to spend time with his bicycle
Pick n Pay CEO Nick Badminton
Pick n Pay CEO Nick Badminton will resign with effect from the end of February, the retailer said on Wednesday.
"After turning 50 last year and 32 years with the company... I think that it's a good time for me to take a sabbatical to spend some quality time with my family and my bicycle," Badminton said in a statement issued by Pick n Pay.
He was CEO for five years, and before that retail managing director for six years.
Pick n Pay chairman Gareth Ackerman would become executive chairman responsible for company strategy while the group searched for a new CEO.
Badminton would be available to help the company and Ackerman during the transition period, Pick n Pay said.
Deputy CEO Richard van Rensburg would assume day-to-day operational responsibility.
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