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Hayward becomes Massmart's COO

8 May 2012

Guy Hayward, who has been Chief Financial Officer of Massmart Holdings (MSM) since 2001, is to assume the role of Chief Operating Officer reporting to the CEO and will continue on the Massmart Board, the company said Tuesday, 8 May 2012.

The group's operating divisions will report directly to him, as will shared services and employee benefits. Hayward joined Massmart in 2000.

Ilan Zwarenstein, who has been Group Finance Executive since 2006, will assume the role of Financial Director, and will be appointed to the Board and the Massmart Executive Committee. He will relinquish the role of Company Secretary. He joined Massmart in 2005.

CEO Grant Pattison will focus on Massmart-Walmart's strategic growth priorities for SA and Africa, including the implementation of the group's Retail Food strategy. He will remain chairman of the Massmart Executive Committee and of all the Divisional Boards, and retains his other responsibilities including legal, corporate affairs, internal audit, integration, supplier development, finance, and human capital.

Philip Sigsworth will temporarily assume the responsibilities of Company Secretary. He joined as Group Finance Manager in January 2012.

These changes are required to enable greater operational focus on achieving the Group's ambitious strategic plans, whilst at the same time responding to the additional responsibilities created by the acquisition of a controlling stake in Massmart by Walmart. They are effective from 7 May 2012, the company said.

Source: I-Net Bridge

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