Retail store – Mr Price’s CEO Stuart Bird, who has held the post since August 2010 and has been an executive director since September 2006, will be retiring as CEO on 31 December and as executive director at the end of next March 2019, the company said on Thursday.
“After a thorough succession process, the board has appointed Mark Blair (51) as the incoming CEO, effective 1 January 2019,” Mr Price said.
Chairman Nigel Payne said Bird’s 25-year career with Mr Price, and particularly the past decade under his leadership as CEO, had seen the group grow into one of the top-performing retailers in Southern Africa, with a market capitalisation of over R60-billion.
Over the past 8 years of Stuart’s leadership, the retail store group has seen its earnings grow at a compound rate of 18.8 percent.
“Stuart’s success has been as a consequence of focusing on our customers and ensuring we provide the products that appeal to them,” Payne said.
“He has also taken key steps to create the infrastructure and capabilities upon which our future success will be built.”
