Pick n Pay Stores Limited announced the appointment of Lerena Olivier as the Chief Finance Officer and executive director of the company with effect from 6 September 2019. Reflecting the strategic and operational importance of the role, this appointment follows an extensive search involving both internal and external candidates. Lerena has been a senior executive within Pick n Pay's Group Finance Division for the past eight years, where she has worked very closely with the current CFO, Aboubakar (Bakar) Jakoet.

She has 18 years of experience with JSE-listed companies in the retail sector. Lerena currently heads the Group's reporting and finance team. She has a very strong background in finance, risk management, strategy, accounting and tax, and her expertise and experience equip her extremely well for her new role as Group CFO.

The Board reiterates its thanks and appreciation to its outgoing CFO, Bakar Jakoet, who will be retiring on 6 September 2019 after 34 years of dedicated service to Pick n Pay. After he retires from his executive position, Bakar will continue to contribute to Pick n Pay by serving in a non-executive capacity on the Board.