Online retailer Takealot has announced that its founder and chief executive Kim Reid has transitioned to the new role of Group CEO of Takealot Group and will become chairman of the group during the course of 2021.
“The search for a new Group CEO is underway and when the right person is found to succeed Kim, this will be announced,” Takealot said. “The appointment of the new Group CEO will reflect the company’s commitment to transformation.”
Once chairman, Takealot said Reid will work closely with the Group CEO and Naspers on the group’s next phase, stepping back from day-to-day operations to focus on initiatives that will deliver future value for the group.
“Reflecting on the last 10 years, we are at a unique point in our history where I am able to set the wheels in motion to pass operational responsibility to a Group CEO, and at the same time drive our commitment to transformation right from the top.
“The business has never been in a better position, poised for the potential growth in ecommerce in South Africa. We have strong management and committed employees who have contributed, and will continue to contribute, to a wonderful, unique, South African story,” said Reid.
In addition to creating a new Group CEO position, and to support the transition, the group said it is further bolstering leadership with the creation of a new CEO position to lead the Takealot.com business.
Frederik Zietsman, who currently heads up the Retail and Marketplace portfolio in Takealot.com, will be appointed to this role, reporting directly to the Group CEO who will work with the leaders of Takealot.com, Superbalist.com, and Mr D Food to build on these well-established platforms.
Reid played a key role in starting Takealot in partnership with US-based investment firm, Tiger Global Management.
While taking a break from corporate life, Tiger Global Management approached Reid with a co-investment opportunity in the South African ecommerce market. They joined forces to acquire Take2, an online retail company started by seven investors in Cape Town in 2002.
Takealot.com was officially launched in June 2011, and Reid served as chief executive since inception.
Gary Altini joined Takealot in January 2011 and as CFO is responsible for the financial side of the business. He also runs the day-to-day operations relating to customer payment mechanisms, risk management, reporting and compliance.
Under Reid and Altini’s leadership, Takealot grew into the leading ecommerce retailer in South Africa. During their tenure, Takealot opened warehouses in Johannesburg, Durban and Cape Town and pickup points across South Africa.
In 2014, Takealot acquired Mr Delivery which gave the business ownership over its own logistics network.
The same year saw the successful acquisition of Superbalist.com and culminated in the announcement that Naspers-owned Kalahari.com would be merging businesses with Takealot.
The merger was successfully completed on 1 May 2015 when all Kalahari customer accounts were successfully transferred to Takealot.
Beginning in early 2018, Naspers increased its investment in Takealot to 96%. Today Takealot is South Africa’s largest ecommerce retailer with over 2,000 employees.