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Richard Brasher, who held a series of top executive positions at Tesco and helped to lead the company to its position as the third-ranked global retailer, has been named CEO of Pick n Pay in South Africa, effective February 2013.

Brasher stepped down from Tesco last March.

Pick n Pay chairman Gareth Ackerman, son of the company's legendary founder, Raymond Ackerman, said that the company was "extremely fortunate" to have landed Brasher, who is expected to bring the company vast experience and insight when it comes to online retailing, loyalty marketing, and private label - all traditionally areas of great strength for Tesco.

The South African retailer, which has been under pressure of late in part because of Walmart's entry into the market, lost its CEO last February when its then-leader, Nick Badminton, stepped down after five years "to spend some quality time with my family and my bicycle."
KC's View:
Big "get" for Pick n Pay. Brasher seems like a bright, talented, classy guy ... and hopefully he'll be good for the company.