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The Ackerman family is stepping aside as the majority shareholder of Pick n Pay, South Africa’s third-largest grocer by revenue, after nearly six decades of control. This decision comes amid a revamp of the company, with market analysts suggesting it was influenced by extensive shareholder pressure. Pick n Pay has confirmed that Ackerman Investment Holdings, the controlling shareholder, will relinquish its voting rights next year.
The founding family of Pick n Pay has announced it will be giving up control of the retail giant. This after being at the helm for almost 60 years. Pick n Pay has confirmed that Ackerman Investment Holdings, the controlling shareholder, will give up its voting rights next year.… https://t.co/m4TRmoP22k
Explainer: South African retailer Pick n Pay's revamp up close https://t.co/yBhFisMs8m https://t.co/Gkp9mvim8Q
Market analysts believe the Ackerman family's decision to relinquish control of Pick n Pay followed extensive shareholder pressure, and was the right move. | @News24_Business https://t.co/k8Tambi5Ff
