Mariam Cassim, CEO of Vodacom Financial and Digital Lifestyle Services, has resigned from the board of directors of JSE-listed retailer Pick n Pay.
This was revealed by Gareth Ackerman, outgoing chairman of Pick n Pay, in a statement to shareholders today, when the retailer published a trading update for the 21 weeks ended 21 July and trading statement for the 26 weeks ended 25 August (H1 FY25).
Cassim was appointed as an independent non-executive director at Pick n Pay in 2020, after joining the Vodacom financial services unit in 2019.
At the time of her appointment, Ackerman said she had transformed Vodacom Financial Services from a loss-making company of R88 million into a profit-making business of R1 billion within three years.
“Mariam Cassim has, unfortunately, decided to step down as a director due to workload pressures. Thank you, Mariam, for your contribution and advice,” Ackerman told shareholders today.
He added the board has agreed to replace long-standing board members over the next 12 to 18 months.
“Given the extent of change required, and the work needed to execute that change, we believe a gradual replacement approach over this period is the most prudent course.
“As previously announced, I will be stepping down as chair. I initially agreed to do the job for five years and it has been more than 15 years.
“Once the balance sheet recapitalisation is complete and the turnaround is in place, it feels like the appropriate time to hand over the baton. In due course, the board will make an announcement on my successor.”
Pick n Pay’s online sales growth for the period was 63.9%, sustaining the 74.4% online sales growth momentum reported for FY24.
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