Pick n Pay Stores Limited announced the appointment of James Formby as an independent non-executive director to the Board, effective 10 October 2022. James Formby is a chartered accountant with a Masters in Philosophy in Management Studies from Cambridge University. James has recently stepped down as the Chief Executive Officer (CEO) of Rand Merchant Bank (RMB), after a successful 25-year career with the FirstRand Group.

James joined RMB in 1997 as a Corporate Finance Transactor and held a number of senior roles over the course of his career, including: Head: Corporate Finance; Deputy Head: Investment Banking Division and Head: Coverage before being appointed as CEO of RMB in September 2015, alongside appointment to the FirstRand Stratco. James' transactional skills and his ability to structure large deals made him a core member in many B-BBEE transactions, IPOs, de-listings, mergers, acquisitions and disposals over his tenure with RMB. As CEO, James played a significant role in developing RMB's strategy.