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Sean Summers to leave Pick 'n Pay
Pick 'n Pay CEO Sean Summers will step down from this position at the end of February 2007, to be succeeded by retail MD Nick Badminton. Summers has been CEO of Pick 'n Pay for 11 years, and says that after 33 years of service he wants to take 'a bit of a break' after February, according to a statement issued to the press.
As the company enters its next stage of evolution, says Summers, he would like to use the opportunity to take a step back, assess his personal and professional life, the various opportunities open to him and take a 'bit of a break' after February.
Nick Badminton, who will succeed Summers, has been with Pick 'n Pay for 27 years and retail managing director since 2001. He will take over with effect from March next year.
Group chairman Raymond Ackerman says Sean Summers has added immense value to the group. "The average tenure of a CEO is between five and seven years and Sean has been at the helm for 11 years."
