Clicks Appoints Bertina Engelbrecht as CEO After Ramsunder Quits, SA Reacts
- Bertina Engelbrecht has been named the new CEO of Clicks
- While there are some reservations about former CEO Vikesh Ramsunder's resignation, SA celebrates her becoming the first black female to lead a JSE-listed retail group
- Engelbrecht officially starts her new role in January 2022
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Bertina Engelbrecht has been appointed the new CEO of Clicks. The 58-year-old, who currently works as the group corporate affairs director, will take the reigns in January 2022 following the resignation of former chief executive, Vikesh Ramsunder.
Source: Twitter
Engelbrecht joined the group in 2006 as group human resources director and was appointed as an executive director in 2008. She quickly worked her way up the pharmaceutical giant's corporate ladder and will become South Africa’s first black female to lead a JSE-listed retail group, IOL reports.
According to News 24, Current CEO Vikesh Ramsunder resigned from the group following an offer he could not refuse in Australia. The businessman had been overseeing the company for the last three years.
While parting seems bittersweet, it's reported Ramsunder will remain onboard as a "strategic adviser" until August next year.
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Check out some of the social media reactions to the news below:
@alechogg said:
"Clicks CEO departs for Australia as ‘brain drain’ continues unabated."
@PhumlaniMMajozi said:
"So the CEO of Clicks Vikesh Ramsunder has resigned and is also leaving South Africa? Business Day reports that Ramsunder “joins a growing number of wealthy individuals leaving” South Africa."
@csuitesawil said:
"Congratulations to Bertina Engelbrecht (58) on her appointment as new CEO of @Clicks_SA .She holds a master of laws degree and is an admitted attorney."
@RickyMadeThat said:
"Whilst I’m happy that Clicks has appointed Bertina Engelbrecht as its first black female CEO, the fact that there are only two black women leading Top 40 companies on the JSE is a serious blight on corporate SA."
Chief executive officer of technology company becomes self-made billionaire
In related business news, Briefly News previously reported that Jacqueline Reses is among the newest self-made billionaires in the United States after a rise in shareholder value ensured that her nett worth crossed the magical mark for the first time.
The renowned leader in the technology space, saw shares in Square, the financial services firm where she was an executive for five years, continue to soar this month.
Only earlier in August, Reses ranked in 30th position of the Richest Self-Made Women in America, according to the business magazine Forbes, with an estimated net worth of $920 million.
Business Wire recently reported that Reses was appointed to the Board of Directors of Endeavor, a global entertainment, sports and content company.
A 0.4 per cent stake in Square, plus additional stock options attribute for Reses' upward move after the stock closed 22 times higher than the $12 a share at which it debuted on the NY Stock Exchange six years ago.
Extensive public company board experience
Reses left Square in October 2020 after serving in various executive roles, including serving as the head of Square Capital, the financial services company’s micro business loan division.
The corporate boffin, who in 1992 graduated from the University of Pennsylvania, credited her experience of working behind the counter at her father’s pharmacy in her first job decades earlier, for her interest in small business.
As it began taking a life of its own, her business acumen landed her at the multinational investment bank Goldman Sachs, where she worked on mergers and acquisitions.
Reses quickly climbed the ladder at the firm and, after rising to the vice president position, took on a new chapter, becoming the CEO of iBuilding, a software company that catered to the real estate sector.
Leading the way as a formidable chief executive
After iBuilding was bought in 2001, she spent the next decade at Apax Partners, a private equity firm, during which time she became a partner.
She then joined Yahoo in 2012, where she notably served as a chief development officer. Two years later, and Reses was at the helm at Square Capital, formed in 2014.
Today, the avid art collector currently serves as the Chief Executive Officer of Post House Capital LLC, a private investment firm focused on consumer and financial technology (fintech).
She serves on the board of digital bank Nubank, the buy-now-pay-later company Affirm and Bill Ackman’s Pershing Square Tontine Holdings. In May, she was appointed executive chairman of the e-commerce marketplace, Wish.
Source: Briefly News
