Christo Wiese, the long-time chair of Shoprite, has indicated he will resign before the next Shoprite annual general meeting , in an announcement made by the listed retailer on Friday.
The Shoprite statement read: “As was noted at the group’s recent AGM, succession planning is a key priority for the board. This is echoed by the current group chair, Dr Wiese, who has indicated his intention to retire as chair by the next AGM.” Watkins previously told Business Day this was to counter Wiese’s dominance: “We are concerned that the majority of recent corporate implosions have been facilitated by one very dominant individual director. Jan [Le Roux] is a significant minority shareholder and his interests are aligned with other minority shareholders,” Watkins said.
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