Pick ‘n Pay to change the guard?

18 August, 2006 at 12:35 pm | Posted in Companies | Leave a comment

Shares of Pick ‘n Pay Stores fell yesterday after the country’s biggest grocery chain said the chairman and chief executive would make a “special announcement” next week.

The stock dropped 2.1 percent in the afternoon, but closed 1 percent lower at R32.66 on the JSE. The food and drug retailers sector gained 0.75 percent.

“There might be a changing of the guard within the Ackermans family,” said Syd Vianello, an analyst at Nedbank Group.

(Bloomberg)

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