A Changing of the Guard in the Aisles: Pick n Pay Reshuffles Its Financial Leadership

South Africa’s retail landscape is a relentless battlefield, and Pick n Pay, a stalwart name in our supermarkets, is shuffling its command post in the heat of the fight. The group announced on Monday that its Chief Financial Officer, Lerena Olivier, will step down after the annual general meeting next year.

This isn’t a simple exit. It’s a strategic repositioning as the retailer grapples with mounting losses and the fierce dominance of competitors like Shoprite and Woolworths. Pick n Pay’s ambitious goal is to stem the bleeding and break even by 2028a target that now hinges on a carefully orchestrated leadership transition.

The Steady Hand Through Stormy Weather

Lerena Olivier, who has held the CFO role since 2019, is credited with navigating the company through some of its most turbulent years. Her tenure saw the unprecedented challenges of the COVID-19 pandemic, the devastating 2021 KwaZulu-Natal civil unrest, and a complex two-step recapitalisation programme just this year.

Her departure from the CFO office is not a full retreat. In a move that underscores her valued institutional knowledge, Olivier will remain in an executive role, shifting her focus to overseeing priority projects deemed critical to the group’s core turnaround strategy.

The New Pilot for the Financial Engine

To take the financial helm, Pick n Pay has looked to the world of professional services. They have appointed Tina Rookledge, the former Regional Managing Partner for EY in the Western Cape, to join the company in February 2026. Following a structured six-month handover, she is slated to assume the CFO role in August of that year.

The appointment signals a clear intent. Rookledge’s background at a global auditing and consulting giant like EY suggests Pick n Pay is seeking a leader with deep analytical rigor, a fresh external perspective, and experience in guiding complex organisations through strategic overhauls. The company stated she will “leverage her experience to support the Group’s turnaround strategy, focusing on operational performance, sustainable growth, and long-term value creation.”

A Turnaround in Progress

This CFO transition is more than a personnel change; it’s a chapter in a larger survival story. The move comes as Pick n Pay executes a group-wide strategy focused on cutting costs, improving operational efficiency, and ultimately restoring profitability. Every rand and every decision is now under the microscope.

For shoppers, the implications are indirect but real. The success of this financial and strategic recalibration will determine the health of the stores on their corners, the prices on the shelves, and the future of a beloved South African brand. The appointment of Tina Rookledge is a bet that a new kind of financial leadership can help steer the iconic retailer back into calm, competitive waters. The countdown to break-even has officially found a new co-pilot.

{Source: DailyInvestor}

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