Clicks’ mainstay chief financial officer (CFO) Michael Fleming will step down from the role at the end of the year, the company told investors on Tuesday night.
The company said Fleming, who has been in the role since 2011, had opted to take early retirement.
Clicks Group chairman David Nurek said: “Michael has made an outstanding contribution to the group’s financial and capital management over the past decade.
“He oversaw the finance portfolio during a period of strong growth for the group, with the market capitalisation on the JSE increasing from R10-billion to the current R77-billion during his tenure. We are sorry to say goodbye to Michael and wish him well for the next chapter of his life.”
Clicks said the 55-year-old Flemming will be replaced by Gordon Traill as an executive director and CFO with effect from January.
Traill, 51, is currently chief of support services at Clicks with responsibility for supply chain, retail distribution centres, property and information technology.
“Gordon has extensive experience in senior financial management and broad exposure to several strategic and operational portfolios within the group, which make him well-suited for his new position.
“Appointing an internal successor of Gordon’s calibre highlights our depth of talent and the quality of our leadership development programmes, enabling the board to promote an executive who has been part of our long-term succession planning.”
The announcement of Traill’s retirement comes just two weeks after the company declared a dividend windfall to its shareholders after the group’s turnover increased 6% to R39.6-billion.
The group also said it was planning record capital investment of R936-million for the new financial year. This includes R477-million for stores and pharmacies and R459-million for supply chain, technology and infrastructure.
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