Retailer Clicks announces new CEO to replace Kneale
JOHANNESBURG - Pharmacy, health and beauty retailer Clicks said on Friday Vikesh Ramsunder had been appointed group CEO and an executive director with effect from next January to succeed David Kneale who has led the company since 2006.
Kneale will step down from January 1 and assume the role of group strategic advisor while he serves his contractual notice period until August 31 2019. This will enable the group to benefit from his extensive health and beauty retailing experience and ensure a smooth transition.
Ramsunder is currently Clicks chief operating officer and has been with the group for 25 years. He has held numerous roles across multiple disciplines including store and distribution centre management, and was head of logistics.
“Vikesh has been mentored as my successor over several years and is highly respected both internally and by external stakeholders of the group," said Kneale. "His proven leadership track record and depth of experience makes him the ideal CEO succession candidate."
During Kneale’s 13 years at the helm, the Clicks group has experienced strong growth in its core markets, with both Clicks and UPD holding market-leading shares in their respective sectors. The group’s revenue has more than trebled in this time while operating profit has increased five-fold.
Under Kneale’s leadership the group seen its market capitalisation grow from R4 billion in 2006 to R50 billion and was recently elevated into the FTSE/JSE Top 40 Index.