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Clicks CEO David Kneale.
Clicks CEO David Kneale.

Clicks CEO to retire after 13 years at the helm

RETAILER NEWS

By Andries Mahlangu - Sep 21st 2018, 10:36

Clicks Group CEO David Kneale is retiring after 13 years at the helm of the retail and healthcare group. 

The company said in a recent statement that Vikesh Ramsunder, the current COO, would become the new CEO from January.

Kneale, 63, will assume the role of a strategic adviser until the end of August 2019 to serve out his contractual notice period.

During his stint, the value of Clicks shares has risen 2,427% on the JSE, far outstripping the six-member food and drug retailers’ index, according to Bloomberg data, which excludes dividends.

The JSE all share index has gained 127% over the same period, excluding dividends, the Bloomberg data shows.

Clicks, which has a market value of R46bn competes more directly with the likes of Dis-Chem, which recently listed on the local bourse.

Ramsunder has been with the group since 1993, performing numerous roles across its different platforms, including that of COO where he responsible for driving the growth in Clicks’s health and beauty market shares.

“David has built a strong executive leadership team capable of sustaining the company’s commercial success,” chair David Nurek said in a statement

“Vikesh’s appointment confirms the strength and quality of our internal talent. His proven track record and depth of experience makes him the ideal CEO succession candidate."

Clicks shares wobbled as much as 3% in the opening trade to lows of R171 on the JSE.

Business Live 

Read more about: retailer | jse | david kneale | clicks | ceo | business

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