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MR PRICE GROUP LIMITED - Changes in executive leadership

Release Date: 18/10/2018 07:05
Code(s): MRP     PDF:  
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Changes in executive leadership

Mr Price Group Limited
(Registration number 1933/004418/06)
Incorporated in the Republic of South Africa
ISIN: ZAE000200457
JSE share code: MRP
("Group" or "Company")

CHANGES IN EXECUTIVE LEADERSHIP

Shareholders are advised that Stuart Bird, who has been Chief Executive Officer ("CEO") of
the Group since August 2010 and an executive director since September 2006, will be retiring
as CEO on 31 December 2018 and as an executive director at the end of March 2019, shortly
before turning 60 years of age, as has been anticipated by the Group’s board of directors
("Board").

After a thorough succession process the Board has appointed Mark Blair (51) currently Group
Chief Financial Officer ("CFO"), as the incoming CEO, effective 1 January 2019. Mark joined
the Group as an executive director in 2006 and has held the office of CFO since 2007.

Chairman, Nigel Payne, paid tribute to Stuart Bird - 'Stuart's 25 year career with Mr Price, and
particularly the past decade under his leadership as CEO, has seen the Group grow into one
of the top performing retailers in Southern Africa, with a market capitalisation of over R60
billion. Over the eight years of Stuart’s leadership earnings have grown at a compound rate of
18.8%. Stuart's success has been as a consequence of focusing on our customers and
ensuring we provide the products that appeal to them. He has also taken key steps to create
the infrastructure and capabilities upon which our future success will be built' he said.

Payne congratulated Mark Blair on behalf of the Board and all the partners in the Mr Price
Group, stating 'Mark is well placed to lead the next phase of the Mr Price Group's growth and
geographic expansion. He is deeply committed to our culture and values, and enjoys the
support of a strong leadership team'.

Durban
18 October 2018

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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