Pieter Boone, the incoming CEO of Pick n Pay, had a close brush with the law as German prosecutors investigated him in November 2017 for possible insider trading and market manipulation.
Although Boone and his colleagues were cleared of wrongdoing in connection with insider trading charges, they were eventually slapped with a monetary fine for another transgression . A Johannesburg-based money manager said Boone’s history at Metro might tarnish his reputation going into Pick n Pay.
In a November 2017 press statement, prosecutors said three unnamed people from Metro and one person outside the company acquired shares or forwarded insider information about a big change in Metro’s structure.
I’m more interested in why pick n pay isn’t hiring a South African...surely there are plenty of qualified (and less tainted) locals that could take the chain forward?
This is a rather nasty remark....I would say litigation might follow