Retailer Pick n Pay Wednesday announced that its CEO Nick Badminton would resign at the end of this month.

Mr Badminton, who has been the CEO of the Cape Town-based company for five years, said he was stepping down to spend time with his family.

"I think that it’s a good time for me to take a sabbatical to spend some quality time with my family and my bicycle," he said in a statement.

"When I came in as CEO, we became singularly focused on the transformation of Pick n Pay," he added. "This transformation was centred on winning with our customers. It included improving our product offer and our stores, which necessitated large investments in our operations, particularly the implementation of SAP and centralised distribution. We also converted Score to Pick n Pay. The most important and significant changes necessary to transform Pick n Pay have now either been made or are well advanced in their implementation.

“I feel that I’ve now completed what I set out to do."

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