Massmart CEO Guy Hayward has informed the company of his intention to step down from his position before the end of this year.
The timing of his exit is still to be confirmed as he and the board embark on the process of ensuring a seamless transition.
The process to appoint Hayward’s successor is under way.
Under Hayward’s leadership as CEO for the past five years, Massmart has seen the introduction of value-added services, the development of shared group logistics services, and the implementation of competitive online offerings in Makro, Game and Builders Warehouse.
Massmart, along with Hayward’s successor, will continue to focus on the improvement of the group’s high-volume, low-expense business model that saves customers money, the company said in a statement on Monday.