5 April 2018

News24Wire (Cape Town)

South Africa: Longtime Shoprite CFO to Retire in July

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Marius Bosman, the longtime chief financial officer of Shoprite Holdings [JSE:SHP], is set to retire at the start of July.

In a market announcement of Thursday morning, Shoprite said that Bosman, who has been with the retailer for 25 years, would stay on as a consultant.

"He will remain involved as a consultant to Shoprite Holdings inter alia to assist in the completion of the financial statements. As such, Mr Bosman will remain involved in the preparation and completion of the financial accounts for the year-end to June 2018."

"The board wishes to thank Mr Bosman for his valuable contribution during his career and look forward to his continued involvement in the group."

Bosman will be replaced by Anton de Bruyn, a qualified chartered accountant and 15-year veteran of Shoprite Holdings, who was most recently the group's deputy General Manager Group Finance.

De Bruyn will act as CFO designate for the next three moths. He will be appointed as as executive director on July 2.

Shoprite shares were trading at R247.84 on the JSE at 11:23, up 1.59% on the day.

Source: Fin24

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