Pick n Pay appoints former Woolies Food boss as CEO-designate
Spencer Sonn to take over from Sean Summers in May 2028.
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Spencer Sonn to take over from Sean Summers in May 2028.
The retailer is looking at reducing 22 000 workers' pay and changing working conditions.
According to trade unions, the retailer is considering reducing working hours and cutting some benefits, such as the 13th cheque.
If Spar keeps its promise of a 40% increase, the lowest-paid employees could earn more than double what Pick n Pay employees earn.
Roughly R25m in shares will be awarded in August, which offsets those forfeited by the delay of achieving break-even.
This is an attempt to regain ground lost to Checkers Sixty60 app.
Retrenchments are not completely off the table.
Retailer says only personal information and limited credit card information were compromised.
Pick n Pay says it remains committed to safeguarding jobs.
Blip in momentum at the end of last year was not on anyone's radar
The union says the proposed changes include a R2 000 reduction in wages per employee.
Are these new execs the key to fixing Spar?
The retailer said it expects its headline loss per share to be more than 20% higher than last year's.
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It’s been more than eight years since the customer was injured after slipping on a hazardous spill in a store in Cape Town.
Over the past decade, the network of Pick n Pay Hypermarkets has barely grown.
Pick n Pay will welcome four new faces in February 2026.
Boxer, partly owned by Pick n Pay, continues to be a key driver of the group’s performance.