Wendy is expected to take over from retiring chairperson Christo Wiese at the group’s next AGM.
Shoprite has appointed Wendy Lucas-Bull as its new chairperson-designate to take over from long-serving chairperson Christo Wiese with immediate effect.
The retailer said it is just waiting for its annual general meeting (AGM) to give formal consent to the board’s decision to appoint Wendy. The AGM is expected to take place in November.
Christo will remain on the board as a non-executive director, but will retire as chairperson at the conclusion of the AGM.
Wendy has been the chairperson of Absa Group, Absa Bank and Absa Financial Services since 2013. “Her extensive banking and widespread sector experience as well as expertise as a chairperson and non-executive director on company boards across multiple industries in both the private and public sector makes her a right candidate for the job,” the company said in the statement.
She was instrumental in the merger of Absa and Barclays and played a key role in its subsequent separation in 2017.
Her professional experience includes international partner of Accenture, executive director of RMB Holdings and CEO of FirstRand’s retail businesses, including FNB, WesBank, OUTsurance, Firstlink, as well as founder and director of Peotona Group Holdings and Peotona Development.
About the appointment, Christo said that Wendy would bring experience and leadership skills that would benefit Shoprite. “On behalf of the board, we welcome Wendy and wish her success in her role as an independent non-executive board member and chairperson-designate. There is no doubt her expertise, experience and leadership will be of considerable benefit to both the board and the Shoprite Group.”