Walmart’s South African Subsidiary CEO Resigns

Walmart’s South African Subsidiary CEO Resigns

From Ventures Africa

Massmart, a South Africa-based retailer owned by Walmart, the world’s biggest retailer, on Friday said its CEO Grant Pattison had resigned with effect from June 1 this year.

However, Massmart said it had appointed Guy Hayward, who held financial roles in many high-profile companies including Goldman Sachs, to replace Pattison as CEO with effect from June 1 this year.

Pattison joined Massmart 16 years ago, succeeding the current chairman of Massmart, Mark Lamberti, as CEO in July 2007.

Under Pattison’s management, Massmart increased its private label products, had enough money to improve Massmart’s supply chain infrastructure and got into Food Retailing through Cambridge Food, Game, Makro and

Pattison also expanded the company’s operations forcefully into the African continent.

Hayward graduated from the University of Cape Town (UCT) in 1986 and served articles with Deloitte,
Haskins & Sells before qualifying as a Chartered Accountant (SA) in 1989.

He has held financial positions at Malbak, Goldman Sachs in London and CNA Gallo. He was appointed at Massmart in 2000 and became CFO in 2001 and COO in 2012.

Read more at Ventures Africa