Pick n Pay Stores Limited announced that Hugh Herman will be retiring from the board of directors of the company after the annual general meeting to be held on 26 July 2022. An attorney, Hugh was appointed as an executive director when he joined the company as head of legal in 1976. In 1986 he became the first Managing Director of Pick n Pay, working alongside Raymond Ackerman as Executive Chairman.

In 1993 Hugh took up an opportunity in the financial sector and joined Investec Bank. Hugh became Group Chair of Investec Bank Limited in 1994, a position from which he retired in 2011. His valued strategic oversight and expertise in the retail, legal, financial and property sectors was not lost to Pick n Pay, however, as he stayed on the board as a non-executive director.