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• Grant Pattison, CEO of Walmart-controlled Massmart in South Africa, said yesterday that he is stepping down after seven years in the role.

He will be succeeded by the company's COO, Guy Hayward.

The Reuters story notes that Pattison "is best known for steering the sale of a 53 percent in Massmart to Wal-Mart, the world's largest retailer. The high-profile 2011 deal was seen as a major vote of confidence in the retail potential in Africa's most developed economy. However, it also sparked months of wrangling with unions and South Africa's government over conditions, including the use of local suppliers."
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