Having observed corporate events for decades, something that baffles me is why chairmen are not exposed more often. At most companies, the wisest head in the boardroom only gets rolled out once a year – for sparsely attended AGMs, and then, often just for administrative purposes.
Pick n Pay chairman Gareth Ackerman‘s nine minute introduction to yesterday’s interim results proves the point. Ackerman made telling points about lessons from July’s KZN Riots which would be outside the remit of any CEO. Among them, a simple yet brilliant suggestion about relocating the N3 Toll Plaza at Mooi River.
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The Mooi River Plaza is literally a stone’s throw from the densely populated Bruntville township where unemployment is reputedly 80%. Miscreants who live there regularly attack queueing trucks, then simply melt back into Bruntville.
Ackerman said the July Riots proved just how important the siting of this Plaza is on the critical N3 artery. So this time, he urged, the Plaza should be rebuilt somewhere else. Nice one Gareth. The best solutions, ones often missed, are sometimes the simplest.
More for you today (click on linked headline to access) –Â
* Tesla posts record quarterly earnings on supply chain resilience. Elon Musk’s electric vehicle maker sales jump on strong deliveries.
* Jack Ma leaves China for the first time since regulatory woes began. Alibaba co-founder’s trip to Europe suggests he hasn’t been banned from leaving the country,. Shares jump 6% to highest in two month..
* Trump’s new social media company plans to go public via SPAC. Former president says Trump Media & Technology group will create Truth Social to combat large social media platforms.
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