This is following the declaration that Ronnie Stein, the current chief financial officer (CFO) of the group, will be retiring at the end of June 2015 after eighteen years with the group and the past seventeen years as CFO.
“The appointment follows an extensive internal and external executive search. Anthony will assume the position of chief financial officer on Ronnie’s retirement,” [DATA TFGP:Foschini Group] said.
“Anthony is a chartered accountant with over 21 years professional experience across various industries. He has been responsible for running a number of regional and pan-African businesses for KPMG and most recently held the position of COO for KPMG Africa.”
(READ MORE: Foschini performs despite tough credit market)
Foschini Group recently reported a total retail turnover increase of 9.8 per cent to 14.2 billion rand for the year ended 31 March 2014 while cash sales rose by 15.9 per cent.
“The group produced a solid result for the year in a difficult trading environment characterised by the extremely challenging credit market,” it said at the time.