HomeAfricaSouth AfricaPick n Pay appoints...

Pick n Pay appoints Spencer Sonn as new CEO starting February 2027.

By Africazine

Pick n Pay is set for a leadership transition as Spencer Sonn is appointed CEO-designate, effective February 2027.

Sonn, the former MD of Woolworths South Africa Food, will succeed Sean Summers, who returned from retirement in 2023 to guide the retailer’s turnaround. This change comes as Pick n Pay aims for profitability by 2029, despite ongoing challenges in its core supermarket operations.

Spencer Sonn to Lead Pick n Pay’s Turnaround

Spencer Sonn’s appointment marks a significant step in Pick n Pay’s ongoing efforts to stabilize and improve its business. He will work alongside current CEO Sean Summers during a transition period before taking full control. The company has made strides in its turnaround, completing key objectives such as recapitalization and optimizing its store estate.

Despite these efforts, Pick n Pay’s core supermarket segment continues to face substantial losses, reporting a trading loss of R953m, an increase from R549m. The company’s turnover for the year ending March was R73.6bn, down 1.6% due to store closures and conversions.

Key Objectives and Challenges Ahead

Pick n Pay’s turnaround strategy includes improving like-for-like sales and enhancing operational structures. The company has raised R12.5bn through recapitalization and R4.7bn from the partial sale of its Boxer stake. However, the supermarket business remains loss-making, and the path to profitability is still uncertain.

Investment analyst Chris Gilmour emphasized that Sonn’s leadership will be crucial as the company enters the final stage of its turnaround. The focus will be on stabilizing store economics and improving margins in a challenging consumer environment.

Next Steps for Pick n Pay

  • Sonn will understudy Summers for at least a year.
  • Continued focus on improving like-for-like sales.
  • Further strengthening of strategic partnerships.
  • Implementation of a section 189A labour consultation to reduce costs.

Pick n Pay is committed to navigating its turnaround journey, with a clear plan in place for future leadership and operational improvements.

- A word from our sponsors -

Most Popular

Previous article
Mercedes-Benz Celebrates 140th Anniversary with Special Editions in Egypt
Next article
Agbaje-Okunade Receives Excellence Award in Public Service Leadership

More from Author

Ghana

EAAIF and Ninety One Commit to Solar Power Development in Ghana

EAAIF and Ninety One have committed USD 15 million to a solar power project in Ghana, part of a USD 6 million initiative to establish a 100 MWp solar PV plant in Dawa, expected to generate 129.5 GWh annually for over 95 industrial tenants.
Africazine -
Gabon

Gabon Hosts Conference to Enhance Understanding of National Development Plan

On November 14, 2026, the association “La Passion des autres” hosted a conference in Libreville to promote Gabon's National Growth and Development Plan (PNCD) 2026-2030, aiming for an 8% economic growth target by 2030 through public engagement and necessary reforms.
Africazine -
South Africa

Honda Marine Launches New Four-Stroke Outboard Engines in South Africa

Honda Motor Southern Africa has launched two new four-stroke outboard engines, the BF60 and BF100, designed to enhance marine operations and reduce fuel consumption in South Africa's recreational and commercial boating sectors. Both engines are now available through a network of marine dealers.
Africazine -
Nigeria

Vice-President Calls for Strengthening State Governments to Boost Regional Prosperity

Vice-President Kashim Shettima emphasized empowering state governments to drive economic growth during the AfSNET Investment Conference 2026 in Calabar, urging local leaders to leverage competitive advantages and develop investment-ready projects to enhance regional prosperity and foster community benefits.
Africazine -

- A word from our sponsors -

spot_img

Read Now

EAAIF and Ninety One Commit to Solar Power Development in Ghana

EAAIF and Ninety One have committed USD 15 million to a solar power project in Ghana, part of a USD 6 million initiative to establish a 100 MWp solar PV plant in Dawa, expected to generate 129.5 GWh annually for over 95 industrial tenants.

Gabon Hosts Conference to Enhance Understanding of National Development Plan

On November 14, 2026, the association “La Passion des autres” hosted a conference in Libreville to promote Gabon's National Growth and Development Plan (PNCD) 2026-2030, aiming for an 8% economic growth target by 2030 through public engagement and necessary reforms.

Honda Marine Launches New Four-Stroke Outboard Engines in South Africa

Honda Motor Southern Africa has launched two new four-stroke outboard engines, the BF60 and BF100, designed to enhance marine operations and reduce fuel consumption in South Africa's recreational and commercial boating sectors. Both engines are now available through a network of marine dealers.

Vice-President Calls for Strengthening State Governments to Boost Regional Prosperity

Vice-President Kashim Shettima emphasized empowering state governments to drive economic growth during the AfSNET Investment Conference 2026 in Calabar, urging local leaders to leverage competitive advantages and develop investment-ready projects to enhance regional prosperity and foster community benefits.

Bank of Ghana Addresses Concerns Over New Heritage Series Banknote Portrait

The Bank of Ghana clarified that the portrait on the new GH¢50 Heritage Series banknote, featuring Mrs Theodosia Salome Okoh, was created from multiple photographs and underwent artistic adjustments, addressing public concerns about its resemblance to her sister, Dr Letitia Obeng.

African Startups Experience Significant Decline in Funding Activity in October

African startups attracted USD 183 million in funding in October 2026, a 58% decline from USD 435 million in the same month last year. Nigeria led with USD 42 million, while startups outside the Big Four markets secured 54% of total funding.

AfSNET Trains Officials to Enhance Investment Promotion Across Africa

The African Sub-Sovereign Governments Network has trained officials from various African countries on investment promotion and project development in Cross River State, ahead of the sixth AfSNET Investment Conference, which will conclude on November 14 and feature presentations on investment opportunities.

Microsoft Outlook Outage Tests ‘Force Majeure’ Proof Rules and ‘Inbox Blackout’ Deal Defenses, Wasel & Wasel Says

PRWire

Following the November 12 global Microsoft 365 server disruption, international law and geopolicy consultancy Wasel & Wasel outlines evidentiary thresholds...

PRWire Press release Distribution Service.

Letshego Africa Holdings Completes Rights Offer with Significant Stake Increase for BPOPF

Letshego Africa Holdings has secured P631.9 million from its P800 million rights offer, with the Botswana Public Officers Pension Fund set to significantly increase its stake after underwriting the capital raise, pending regulatory approval for the remaining shares valued at P168.1 million.

South Africa and China Enhance Partnership in Science and Technology Initiatives

South Africa and China are enhancing collaboration in science and technology by establishing an Artificial Intelligence Talent Development and Innovation Centre to address South Africa's digital skills gap. The initiative was discussed during a meeting on November 11, 2026, in Wuhan.

Egypt and China Discuss Cooperation in Technology and Digital Economy

The National Telecommunication Institute in Egypt is collaborating with a Chinese delegation to enhance the ICT sector, focusing on training tech professionals and developing AI applications to accelerate Egypt's digital economy. Joint projects and technology transfer are key components of this partnership.

Chancen International Advocates Income Share Agreements for Education Funding

Chancen International is transforming education funding in Rwanda through income share agreements, benefiting over 14,000 young people, with 74% of graduates employed above the repayment threshold. The model ensures manageable repayments based on income, supporting those from low-income households.