Grant Pattison to be appointed Edcon CEO in early 2018 when Bernie Brookes' contract ends
25 May 2017
Grant Pattison to replace Bernie Brookes as Edcon Group CEO at end January 2018
Edcon CEO Bernie Brookes to extend his contract to February 2018
Johannesburg, 25 May 2017: The Edcon Board of Directors has announced that Grant Pattison will be appointed Edcon Group CEO in February 2018.
Edcon’s current Chief Executive Officer, Bernie Brookes, will extend his contract, which would have expired in September 2017, to January 2018. To ensure a smooth and effective transition, Grant will be appointed COO / CEO designate on 5 June 2017, joining Edcon’s Executive Management Group, reporting to Bernie. Grant, who is a current Edcon Non-Executive Director, will remain on the board as an executive director.
Grant will assume immediate responsibility for the Group’s strategic implementation process, the CNA brand, Edcon’s growing cellular offering, as well as its Africa business, where Edcon operates in eight countries on the continent, in addition to South Africa.
Edcon Chairman, Gareth Penny, commented, “We are delighted that Grant, who is undoubtedly one of South Africa’s most respected and experienced retailers, has accepted the appointment as COO, transitioning to the CEO’s position in early 2018. He has been closely involved in various aspects of the Group’s strategic direction and working closely with Bernie on a day-to-day basis over the coming months will result in seamless continuity. His appointment will ensure that the strategic roll-out continues to be implemented with success, delivering value for all stakeholders.
“Bernie’s leadership over the last two years has not only ensured the Group’s survival, but has positioned Edcon appropriately in rebuilding the business and ensuring long term sustainability. We will always be grateful for his significant contribution and the guidance and knowledge he has passed-on to the Edcon team.”
Bernie and the team have made considerable progress with numerous key turnaround initiatives. These include, among other activities, improvements in space productivity, lowering the cost of procurement, a focus on better sourcing, improved inventory management, better administration of markdowns and entry price points, a revamped loyalty program, development of a customer driven organisation, renewed supplier and other stakeholder engagement, while the development of a world class information technology system and supply chain remain key to the Group’s overall plans.
“Edcon”, said Grant Pattison, “is experiencing an exciting and invigorating time as it journeys through its significant change process, which is focused on Customer Centricity, Simplicity and Empowering the Edcon team. I fully subscribe to this strategic intent, and it was one of the many aspects that attracted me to the position of CEO. Bernie has done a tremendous job in designing and kick-starting the process of re-shaping and re-energising Edcon, as it works to emerge as one of the continent’s leaders in retail. I am certainly looking forward to working with Bernie and his committed team as we build the long term sustainability of the Group.”
Edcon CEO, Bernie Brookes concluded, “While we have made great strides in terms of our strategic transformation, we still have a fair amount of work in order to significantly advance our turnaround. With Grant joining Edcon as COO/CEO designate it will certainly accelerate certain areas of the change process. I have worked closely with Grant and I am impressed with his strong overall retail experience and knowledge. He has a tremendous grasp and understands the local market really well, while he has a great insight into the rest of the continent where he has built a considerable footprint during his tenure at Massmart/Walmart. I am looking forward to working with Grant to build a stronger, more robust Edcon.”