Three years ago, Pick n Pay was running out of road.
Sean Summers had returned as CEO, but within three months the retailer had breached its covenants and exhausted all its available facilities.
ADVERTISEMENT
CONTINUE READING BELOW
Today, a stand-off with unions has been resolved without retrenchments, customers are gradually returning, and a successor has been named.
Read:
Pick n Pay appoints former Woolies Food boss as CEO-designate
‘We’re winning back customers one at a time’ – Pick n Pay’s Sean Summers
This week on The Executive Exchange, Summers tells Bronwyn Nielsen what it took to bring a South African retail institution back from the brink.
He discusses the handshake deal for Boxer, the “urban legend” he had to confront, and why every CEO now needs to know their journalist (KYJ).
ADVERTISEMENT:
CONTINUE READING BELOW
Pick n Pay share price
For previous episodes of The Executive Exchange, click here or view on MoneywebTV on our YouTube channel.
#brink #Sean #Summers #saving #Pick #Pay