Further executive changes at Massmart as CEO steps down

Massmart has announced that Guy Hayward will leave the group before the end of 2019.

After almost 20 years with Massmart, the past five of which have been as CEO, Guy Hayward has decided to step down from his role before the end of 2019. 

This comes less than a week after Massmart announced that their CFO Johannes (Hans) van Lierop will be stepping down and replaced by Mohammed Abdool-Samad.

Read more: Mohammed Abdool-Samad announced as new Massmart CFO

Guy will step down once the process of appointing a successor and ensuring a seamless transition has been completed. 

In a statement, the company said that Guy has guided Massmart through exceedingly challenging market conditions and has worked to position the business for future growth. Under his leadership, the company has seen the introduction of value-added services, the development of a shared group logistics service, and the implementation of competitive online offering in Makro, Game and Builders Warehouse. 

Massmart board chairman Kuseni Dlamini said: 

“We would like to convey our appreciation to Guy for his contribution and dedication to Massmart over the years. He has been a valued contributor to many of the Company’s defining milestones including our listing on the JSE in 2000, the closure of the Walmart transaction in 2010/11 and the multiple corporate acquisitions to grow and diversify the group. We wish him well in all his future endeavours.”