Retail giant Pick n Pay announced that its founder, Raymond Ackerman, has died.
Ackerman founded Pick n Pay in 1967 with his wife, Wendy and was the chairman for 43 years.
Today, the retailer operates over 2,000 stores across South Africa, Botswana, Eswatini, Lesotho, Nigeria, Zambia, and Zimbabwe.
Raymond Ackerman early life and career
He was born in 1931 in Cape Town to clothing group founder Gus Ackerman. He attended the University of Cape Town.
Ackerman was also CEO of the Group until 1999, when the roles of Chairman and CEO were split.
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He remained Pick n Pay chairman from the time of the company’s formation until 2002.
In 2010, he was reappointed as chairman of Pick n Pay and retired from the board when Gareth Ackerman was appointed chairman.
He was appointed Honorary Life President of Pick n Pay Stores Limited. He has won many accolades during the years as a leader, a businessman, a humanitarian and a champion of the consumer.
Dubbed the retail king with a heart, he actively campaigned against petrol price cutting and called for Nelson Mandela’s release in 1989.
He also established the Raymond Ackerman Academy for Entrepreneurial Development and received seven honorary doctorates.
Upon his death, the retail giant’s net worth stood at US$500 million. In South Africa, the Pick n Pay group faces fierce competition from Shoprite and Woolworths.
But Ackerman had a strong reputation as a consumer champion, including fighting supplier cartels in bread, petrol, and cigarettes.
At the time of his death, he had no executive responsibilities at Pick N Pay, but he and his family owned about 48% of the stock.
