Wrap Text
CFO succession and appointment of non-executive director
Pick n Pay Stores Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1968/008034/06)
JSE share code: PIK
ISIN: ZAE000005443
("Pick n Pay" or "the Company" or "the Group")
CFO SUCCESSION AND APPOINTMENT OF NON-EXECUTIVE DIRECTOR
In accordance with paragraph 3.59 of the JSE Listings Requirements, the Board of Directors of Pick n Pay
Stores Limited ("the Board") is pleased to announce the following appointments.
1. Planned succession of the Group's Chief Finance Officer ("CFO")
The Board of Directors of Pick n Pay Stores Limited ("the Board") announces that Ms Lerena Olivier will
step down as Group CFO at the conclusion of the Company's 2026 Annual General Meeting ("AGM") in
August 2026, in accordance with the Group's long-term succession planning.
Lerena joined Pick n Pay in 2011 and was appointed Group CFO in 2019. Over her 14-year tenure, she
has made a significant and lasting contribution to the Group's financial stewardship. Lerena has applied
her broad finance and leadership expertise to strengthen the Group's financial management, reporting,
governance and capital structure. Lerena has played a central role in helping the Group navigate some
of the most challenging periods of its recent history, including the Covid-19 pandemic, the KZN riots of
2021 and the Group's 2025 two-step Recapitalisation Programme. Throughout, she has provided calm,
steady leadership and has built a strong, capable and highly regarded finance team.
The Board extends its sincere appreciation to Lerena for her dedication, professionalism and service to
the Group. Importantly, Lerena will not be leaving Pick n Pay. Following her retirement from the CFO
role, she will continue to support CEO Sean Summers and the executive leadership team in a strategic
role, overseeing priority projects that are essential to the successful delivery of the Group's turnaround
plan.
2. Appointment of Ms Tina Rookledge
The Board is pleased to announce the appointment of Ms Tina Rookledge with effect from 1 February
2026.
This appointment forms part of a planned and structured transition within the Group's finance
leadership, and allows for a comprehensive and well-managed handover period, ensuring continuity and
stability across all finance functions. It is the intention of the Board that Ms Rookledge will assume
responsibilities within the finance function and the role of CFO only following the conclusion of the AGM
in August 2026.
Ms Rookledge has over 20 years of experience in professional services, with deep expertise in
governance and financial management. She has a strong understanding of the Pick n Pay business,
having worked closely with the Group in her previous role. Over her career, she has successfully led
large, multidisciplinary teams on complex projects for multinational organisations. As Regional
Managing Partner, she has demonstrated a proven leadership track record by managing and growing
the EY Western Cape practice for six years and spearheading strategic initiatives that delivered
operational improvements and business growth.
In her new role at Pick n Pay, Ms Rookledge will leverage her experience to support the Group's
turnaround strategy, focusing on operational performance, sustainable growth, and long-term value
creation for stakeholders.
The Board welcomes Ms Rookledge to the Group and looks forward to her contribution to the
Company's finance leadership and broader transformation objectives.
3. Appointment of Mr Thabo Leeuw as Independent Non-Executive Director
The Board is pleased to announce the appointment of Mr Thabo Leeuw as an Independent Non-
Executive Director of the Company with effect from 1 February 2026. Mr Leeuw will also serve as a
member of the Group Audit, Risk and Compliance Committee ("GARCC").
Mr Leeuw brings more than 30 years' experience across finance, investment management, and
corporate governance. He is the Co-Founder and Chief Executive Officer of Thesele Group, a position he
has held since 2005, where he has overseen the business through various market cycles, secured key
funding partnerships, and worked closely with management teams to support operational
improvements and strategic growth initiatives.
He has previously held senior positions at Worldwide Africa Investment Holdings (Afric Oil), Oceana
Fishing, Old Mutual Employee Benefits, and Cazenove South Africa, where he progressed to Director in
Corporate Finance and played a significant role in major BEE transactions, including the development of
Incwala Resources.
Mr Leeuw has extensive board experience across JSE-listed companies, including the JSE Limited, Attacq,
Hulamin (where he served as Chairman), Rhodes Food Group (where he was Lead Independent
Director), and a number of other entities. He has a strong governance track record, having chaired and
served on Audit and Risk Committees across multiple organisations.
He completed his articles at Deloitte and holds B.Comm degree from the University of Zululand, B Compt
(Hons) from the University of South Africa and successfully completed the Management Advancement
Programme (MAP) with Wits Business School.
The Board looks forward to Mr Leeuw's contribution, particularly given his extensive governance
background, audit oversight experience, and deep understanding of the South African corporate and
investment environment.
As previously announced, Grant Pattison will also be joining the Board, with an effective date of 1
February 2026. Together with the appointment of Pooven Viranna in June 2025, the Board has an
additional three experienced directors, allowing for the retirement of some long serving directors in due
course.
By order of the Board
Cape Town
1 December 2025
Sponsor:
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 01-12-2025 09:45:00
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