Massmart announces new CEO

Massmart, which owns Makro, Game, and Builders, has announced that Jonathan Molapo will succeed Mitchell Slape as CEO from 1 January 2023.

Slape will step down as Massmart CEO on 31 December 2022, after taking up the role in 2019.

“This is a wonderful moment for Massmart as we recognise top local talent to lead the company in its next phase of development,” said Massmart chair Kuseni Dlamini.

“Jonathan’s appointment has been part of a well-thought-out succession plan that started with his recruitment to the role of Massmart Chief Operating Officer in January 2022.”

Dlamini said the time allowed Molapo to establish strong relationships with Walmart and his Massmart colleagues.

“I would like to thank Mitch on behalf of the Massmart Board for his immense commitment and contribution to Massmart under the most difficult of circumstances,” said Dlamini.

“The actions taken by the management team under his guidance have resulted in the successful delivery of more than 30 turnaround projects. Massmart is a better, more focused business thanks to the leadership provided by Mitch.”

Molapo joined Massmart from Astron Energy, where he was chief executive officer from June 2018 to December 2021.

Before this, he was at Puma Energy and Total SA Group, where he held respective roles as chief operating officer and executive vice president for Central and East Africa.

During his time at Total, Molapo worked in Ghana and France before returning to Johannesburg to join Puma Energy.

Molapo has a BA in Economics from Laurentian University, Canada and has completed the International Executive Programme at the Insead Business School in France.

“Having had the opportunity to get to know Jonathan since he joined the company, we look forward to working alongside him as CEO and building on our commitment to South African customers, associates and partners,” said Walmart International CEO Judith McKenna.

“We continue to see opportunity in Massmart and the impact the business can have, providing people across the region with greater access to goods and services they want.”

In addition to announcing the CEO succession plan, Walmart also announced that it wants to buy the Massmart shares it doesn’t own for R62 per share. The offer excludes treasury shares.

Slape congratulated Molapo on his appointment.

“He and I have worked together closely for the past eight months and share views on the way forward,” Slape said.

“The past three years have been demanding, and the time is right to handover to a new leader, to guide the Group through the next phase of its evolution.”

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Massmart announces new CEO