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CLICKS GROUP LIMITED - Resignation and appointment of Chief Executive Officer

Release Date: 23/09/2021 08:00
Code(s): CLS     PDF:  
Wrap Text
Resignation and appointment of Chief Executive Officer

Clicks Group Limited
(Incorporated in the Republic of South Africa)
Registration number: 1996/000645/06
Share code: CLS
ISIN: ZAE000134854
CUSIP: 18682W205
LEI: 378900E967958A677472
(“Clicks Group” or “the group”)


Shareholders are advised that chief executive officer (“CEO”) and executive
director Vikesh Ramsunder has resigned from the group with effect from 31
December 2021 to take up a career opportunity as the CEO of a listed company
in Australia. He will continue as a strategic advisor to the group until 31 August

Bertina Engelbrecht (58), currently the group corporate affairs director, has been
appointed as CEO from 1 January 2022. She joined the group in 2006 as group
human resources director and was appointed as an executive director in 2008. In
December 2020 Bertina’s portfolio was expanded to include strategic stakeholder

Clicks Group chairman, David Nurek, said: “Vikesh has demonstrated
outstanding leadership as CEO over the past three years and has led the group
through several challenges in recent times, most notably through the Covid-19
pandemic. Vikesh has built a strong executive leadership team and we are
confident in their ability to maintain the current momentum in the business. We
are sorry to say goodbye to Vikesh and wish him well as he makes this
international career move.”

“We are pleased to appoint Bertina as the first black female to lead a listed retail
group in South Africa. She has been part of the executive leadership team for the
past 15 years and been integrally involved in the development of the group’s
strategy and growth of the business over this time. Appointing an internal
successor of Bertina’s calibre highlights the depth of talent and commitment to
sustainable transformation and human capital development within the company.”

Under Vikesh’s leadership Clicks and UPD have entrenched their market-leading
positions and the group has expanded its retail presence to 841 stores and 621
pharmacies. The group is recognised as the most transformed and empowered
retailer in the country. In this three-year period the group’s share price has
increased by 60% and the market capitalisation on the JSE has risen from R48
billion to R75 billion, despite markets being severely impacted by Covid-19.

Outgoing CEO Vikesh Ramsunder said: “I am leaving Clicks Group and South
Africa with a heavy heart. It has been an honour to lead the Clicks Group and to
have been part of such a dynamic and transformed business which has
presented me with career defining opportunities.”

Incoming CEO Bertina Engelbrecht said: “Being appointed CEO of a company of
the stature of Clicks Group is a privilege and I thank the board for their
confidence and support in entrusting me to lead the company. Clicks Group is on
a sustained growth trajectory thanks largely to the quality of the highly
experienced executive team and I look forward to leading this strong team from
January next year.”

Background information on Bertina Engelbrecht
A career human resources professional, Bertina joined Clicks Group in 2006 and
was appointed as an executive director in 2008. In 2020 her responsibilities were
expanded to include strategic stakeholder engagement and she assumed the
position of group corporate affairs director. Prior to joining the Clicks Group
Bertina was general manager for Shell SA Energy and regional human resources
manager for Shell Oil Products Africa. Earlier in her career Bertina was director
of organisational effectiveness at Sea Harvest, managed her own consultancy
practice and spent eight years with Transnet. Bertina holds a master of laws
degree and is an admitted attorney.

Cape Town
23 September 2021

Investec Bank Limited

Date: 23-09-2021 08:00:00
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