The latest news on Raymond Ackerman centres around his enduring legacy following his death in September 2023. Ackerman, the founder of Pick n Pay and a transformative force in South African retail, is remembered as a pioneering entrepreneur and philanthropist[6].
Raymond Ackerman died on 6 September 2023 at age 92. His passing was announced by business and community leaders, with tributes emphasizing his contributions to both the retail sector and broader society. His synagogue, Temple Israel, noted the lasting mark left by Ackerman and his wife Wendy, particularly in education, organisational support, and efforts to foster inclusivity[6]. The South African media and business leaders widely commemorated him as a “heroic giant” of supermarkets and entrepreneurship[3].
Ackerman’s entrepreneurial vision began in 1967 when he and his wife purchased four stores, laying the foundation for what would become Pick n Pay, one of South Africa’s largest supermarket chains[2][6]. He led as CEO until 1999 and as Chairman until 2010, when his son, Gareth Ackerman, assumed leadership. The Ackerman family maintained majority control for decades, starkly shaping the company’s direction and community role[2].
Pick n Pay’s leadership saw a major transition in August 2025 when Gareth Ackerman stepped down as Chairman at the annual general meeting. This marked the official end of the Ackerman era at Pick n Pay, with no family member in the CEO or Chairman role for the first time. The shift followed significant corporate restructuring and a challenging financial year that ended the family’s majority stake and saw the appointment of James Formby as Chairman[2][1].
Raymond Ackerman’s philanthropic legacy continues through multiple educational and entrepreneurial programmes. Chief among them is the Raymond Ackerman Academy of Entrepreneurial Development, established in partnership with major South African universities, which provides intensive training, mentorship, and development for young entrepreneurs in South Africa and beyond. The Academy remains active, offering a six-month full-time online programme to youth across southern Africa[7][8]. Additionally, the Raymond Ackerman Foundation and other initiatives continue to support social development and business growth[4][5].
References
- [1] 2025 was a defining year for Pick n Pay, says Gareth Ackerman – IOL
- [2] Ackerman era ends at Pick n Pay as leadership transitions
- [3] PICK N PAY LOSES IT’S HEROIC GIANT RAYMOND ACKERMAN
- [4] Small business development – Pick n Pay Investor Relations
- [5] A stadium visit with heart We welcomed the Raymond … – Instagram
- [6] Raymond Ackerman (businessman) – Wikipedia
- [7] Raymond Ackerman Academy of Entrepreneurial Development – Johannesburg Business School
- [8] Raymond Ackerman Academy for Entrepreneurial Development
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