Bakar Jakoet retires as Pick n Pay Group CFO after 34 years

Bakar, who stayed on with the company well beyond his technical retirement age, finally retires.

Aboubakar ‘Bakar’ Jakoet will be retiring as chief financial officer of the Pick n Pay Group. He has agreed to remain in his position until a successor has been appointed and will serve as a non-executive capacity on the board after that. 

Bakar has been the CFO of Pick n Pay since 2011 and, according to Pick n Pay Group chairperson Gareth Ackerman, his contribution to the company over 34 years has been “immense”. 

Gareth told Business Day Live: 

“Bakar’s tenure as CFO has been invaluable over an extremely important period in our history. Although Bakar reached the technical retirement age a few years ago, we persuaded him to stay on for a while, and that has been very important for the company.” 

Bakar joined the group in 1984, working in the national finance office, heading up special projects and new business. He was appointed divisional manager in 1993 and served on the retail board as chief finance controller since its inception in 1995. He was appointed as CFO and a member of the Board in 2011. 

In addition to his responsibilities at Pick n Pay, Bakar is a member of the University of Cape Town Council, chairman of the UCT Remuneration Committee and deputy chairman of the UCT Finance Committee. He is a director of the Sports Science Institute of South Africa and a qualified chartered accountant.