Massmart CEO steps down - CNBC Africa

Massmart CEO steps down

Southern Africa

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Makro, one of Massmart's many divisions. PHOTO: R & L Architects

The South African-based regional management group, which is invested in a portfolio of wholesale and retail formats, also announced that Guy Hayward, the company’s chief operating officer, would take up the position of Massmart chief executive with effect from 1 June 2014.

“Under Pattison’s leadership, Massmart grew its private label offering, invested in upgrading Massmart’s supply chain infrastructure, entered into food retail, expanded aggressively across the African continent, initiated new format innovations whilst also establishing e-commerce solutions at DionWired, Shield and Makro,” [DATA MSM:Massmart Holdings Limited] said.

(READ MORE: Massmart boasts a 10% sales hike)

Pattison also led the 2011 sale of a 53 per cent equity stake in Massmart to Wal-Mart Stores as well as supervised the resultant integration of the two businesses.

“Pattison joined Massmart in 1998. He was appointed to the executive committee in 2000, to the board in 2004 and succeeded Mark Lamberti as CEO in July 2007. The board and management of Massmart are very appreciative of Pattison's achievements at Massmart and wish him well in the next phase of his life and career,” said the company.

Massmart concurrently announced that Mark Lamberti resigned as chairman and director of the company, with effect from 10 April 2014, in order to devote himself fully to his new role as CEO of Imperial Holdings.

“In 1988 Lamberti was appointed managing director of the ailing six store Makro chain. Following its successful turnaround, he founded Massmart in 1990 to pursue an aggressive multi-format growth strategy, which resulted in a 238 store presence in 14 sub-Saharan African countries by 2007 when he stood down as CEO,” Massmart said.

(READ MORE: Shoprite sues Massmart in exclusivity battle)

“The board of directors and management of Massmart extend their sincere thanks and appreciation to Lamberti for his exceptional leadership of Massmart in both roles and wish him great success in the next phase of his career.”

Kuseni Dlamini has been appointed to the board with effect from 10 April 2014, and will assume the role of independent non-executive chairman of Massmart.