My Wolverhampton trip to meet Steinhoff’s newest heavy hitter

By Alec Hogg

It took all of yesterday to conduct my interview with Steinhoff’s recently acquired big hitter. The assignment required a trip from London to Wolverhampton, where the group’s newly bought Poundland is headquartered. The effort was worth every minute.

Andy Bond is the kind of human “acquisition” Steinhoff seems to be specialising of late. Although still in his early 50s, he is one of the UK’s most recognisable CEOs, having spent five years running 170 000-staffed retailing giant Asda. After leading the acquisition team that bought SA’s Massmart for Asda’s parent Walmart, Bond realised the next promotion would require an unwanted move to the USA. So he decided to step off the corporate ladder.

While negotiating the Massmart deal, however, Bond got to know SA billionaire Christo Wiese. So after leaving Asda the two got talking, and in late 2014 launched Pep & Co with an audacious plan to open 50 stores in 50 days. That worked well enough for Wiese to entrust his 1 000 store European business to Bond’s care. And in the wake of Steinhoff’s merger with Pepkor, the former Asda chief got the firepower to land the £600m Poundland deal.

Bond is the third high profile CEO to launch a second career within Steinhoff, following in the footsteps of Steve Booysen (ex ABSA CEO) and Sean Summers (ex Pick n Pay). It says a lot about the house Markus Jooste has built that he can attract – and rejuvenate – such heavy hitters. A chartered accountant and tax specialist, Jooste says he puts relationships and people at the top of his priorities. Great advice for any entrepreneur.

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