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Ackerman plans for his successio... Meyer Zall creams it with psoriasis rem... Ingwe glows brightly as earnings go skyw... NBS/Norwich reshuffle gets in ste... Del Monte Royal not so swee... Kerzner empire consolidates its US gamin... Genbel SA lifts dividends by thir... Ackerman says he'll jump only when he h... |
Ackerman plans for his successionRAYMOND Ackerman, founder of Pick 'n Pay and one of the country's foremost businessmen, is formulating his plans for succession. Now 65, Ackerman said this week he would quit his post as chief executive once the supermarket group had seen a few years of strong growth, probably in about four years' time. He plans to stay on as executive chairman of the group. The obvious choice for CE is his son Gareth, 39, who has risen through the ranks of Pick 'n Pay and is now managing director of group enterprises. Another one of the important components of Ackerman's succession plans is Sean Summers, the energetic managing director of the group's store divisions. "I want to design a structure in which Gareth and Sean complement each other," Ackerman says. The most obvious split would be to appoint Gareth as CE and Summers as group MD. ¥ See Page 5
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