PICK N PAY STORES LIMITED - Appointment of New CEO

Appointment of New CEO

Pick n Pay Stores Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1968/008034/06)
Share Code: PIK ISIN code: ZAE000005443


NEW PICK N PAY CEO TAKES THE HELM

Pick n Pay today announced that, following the announcement of its new CEO in
October last year, CEO Richard Brasher had started his role at Pick n Pay slightly
early, on 23 January. Gareth Ackerman’s role has reverted to non-executive
chairman.

After an extensive international search, the company appointed Brasher, the
former Tesco board member, to the position of Pick n Pay CEO.

Brasher (51) was a leading member of the top team and main board of Tesco,
transforming the company into a global retailer and taking Tesco to clear market
leadership in the UK with a market share in excess of 30%.

During Brasher’s twenty-five-year career, Tesco expanded both domestically and
internationally, and became a benchmark on many aspects of retailing.

Chairman Gareth Ackerman said that Brasher's experience will stand him in good
stead across all major areas of the Pick n Pay business, including Pick n Pay’s
smart shopper loyalty programme, now with well over 6 million members, its
private label business and its online shopping facility.

By order of the board


Cape Town
1 February 2013

Sponsor:
Investec Bank Limited

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