Massmart Head Pattison to Step Down
JOHANNESBURG-Grant Pattison, CEO of South African retailer Massmart (in which Walmart holds a majority stake) will leave his post on June 1.
Guy Hayward, currently chief operating office, will become CEO at that time, in accordance with the company's succession plan. Pattison's future plans were not announced in a Massmart statement.
Pattison joined Massmart in 1998 and was appointed CEO in 2007. He led the company through the transaction process by which Walmart acquired a 53 percent stake in the retailer. Also during his tenure, Massmart reinvigorated its private-label offering, invested in upgrading the supply-chain infrastructure, added food to its product mix, expanded throughout Africa, launched new formats and established e-commerce at its DionWire, Shield and Makro formats.
Hayward joined Massmart in 2000 and was named chief financial officer the following year. He became chief operating officer in 2012.