CHRIS GILMOUR: Foreign CEOs at SA retailers shows lack of faith in home-grown talent

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South Africa Headlines News

The old belief that imported executives are better than local ones persists as Pick n Pay appoints a German retailer as its new head

With the announcement by Pick n Pay of German retailer Pieter Boone as the replacement for retiring incumbent Richard Brasher, it struck me that SA retailers have had more than their fair share of foreign CEOs over the years.

The results have been mixed, with no clear indication that the foreign appointees have done consistently better than their local counterparts. Only Clicks and Pick n Pay can honestly say that their foreign CEO appointees have been consistently successful. ..A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

 

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