Wendy Ackerman is the co-founder and Executive Director of Pick n Pay Stores. Wendy and her late husband Raymond are the power couple behind one of South Africa’s pre-eminent FMCG retailers, Pick n Pay, which has over 450 stores throughout South Africa, southern Africa and Australia.
Alongside raising her family, Wendy has been actively involved in the Pick n Pay Group’s development of employee benefits and their welfare. Wendy is equally passionate about her family’s philanthropic endeavours and her work with the underprivileged.
This incredible woman entrepreneur has not only contributed to the building of a formidable and socially responsible retail empire, Pick n Pay Stores. But has also devoted her life to making a difference to others in South Africa.
Wendy Ackerman Biography
Wendy Ackerman was born in Cape Town, South Africa. She started out on her career path as a student at the famous University of Cape Town, followed by the University of the Witwatersrand and UNISA.
In the early 1960s, she became a teacher at the English Academy in Soweto. And got involved in teaching English to black students at night school during her student years.
Her introduction to business came when she joined her husband, Raymond Ackerman, in the retail company Pick n Pay.
Early life and education
Ackerman attended convent schools during the Second World War. Despite being destined for the retail industry. She majored in history of art, English and psychology at the University of Cape Town (UCT).
In her second year at university, she married future retail magnate Raymond Ackerman. They moved to Johannesburg, where she lived for 12 years and completed her degree. Taking care of three children at home, which frustrated her.
In 1964, the year Nelson Mandela went to prison and amidst the biggest political crack down in the country’s history. Ackerman was part of the team that put on a Shakespeare festival in South Africa’s townships, with actors from the University of Cambridge. This led to Ackerman giving English lessons in the townships.
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When it came to learning economics at the University of Witwatersrand, Johannesburg, Ackerman dropped out because she didn’t understand the “airy fairy” subject.
Her husband became her teacher and she picked up her business knowledge through osmosis, when they attended business lectures. The couple went to the United States to study supermarketing and worked at supermarkets together—the business that was to make their fortune.
Ackerman says working with her husband was good, as he was an understanding person. Their biggest fights were about company policy. They fought over the building of a hypermarket in picturesque Constantia, Cape Town.
The Birth of Pick n Pay
The journey that led to South African supermarket chain Pick ‘n Pay (PnP) began in 1966 when Checkers, still a grocery store at the time, fired Raymond Ackerman.
“I’ve always had enormous faith in my husband. I was delighted when he was fired,” says Ackerman, adding that he hadn’t been happy at work for a long time.
When the Ackermans moved back to Cape Town to establish PnP in 1967, which they acquired. What started as a small family-owned business quickly grew into a retail giant.
Pick n Pay revolutionized the retail industry in South Africa by introducing concepts such as consumer rights, low prices, and high-quality products. The company’s motto, “Inspired by You,” reflects its commitment to serving the needs of its customers.
Wendy played a crucial role in the company’s growth and success. Her keen understanding of consumer behavior and her commitment to ethical business practices helped Pick n Pay establish itself as a trusted brand in South Africa. Under her leadership, the company expanded its operations across the continent, becoming one of the most recognized retail chains in Africa.
Wendy Ackerman’s role in Pick n Pay
Her introduction to business came when she joined her husband, Raymond Ackerman, in the retail company Pick n Pay, which he acquired, and was appointed a Director in 1981, with a responsibility for employee liaison, employee benefits and their welfare.
Wendy’s philanthropic journey began to take seed during this time. Together with her husband, Wendy has been an outstanding entrepreneurial leader who has helped to drive change, growth, vision and innovation in the retail sector in Africa.
Today, the business consists of over 450 stores, with the inclusion over 121 supermarkets and 14 hypermarkets. The company extends its food and retail services across South Africa, southern Africa and even Australia, and has employed an estimated 49 000 people over the years.
Her Personal Life
Wendy Ackerman’s personal life is deeply intertwined with her professional and philanthropic endeavors. She and her husband Raymond have been partners in every sense of the word. Working together to build both a successful business and a legacy of giving back.
Their partnership is a testament to the power of collaboration and shared values in achieving great things. They are blessed with four children, Suzanne, Kathryn, Jonathan, and Gareth. While Wendy Ackerman’s contributions to the business world are significant, she is perhaps even more renowned for her philanthropic work.
Throughout her life, Wendy has been a passionate advocate for social justice, dedicating much of her time and resources to causes that uplift disadvantaged communities and promote equality.
About Raymond Ackerman
Raymond Ackerman was born in Cape Town in 1931, the son of the Ackerman’s clothing group founder, Gus Ackerman, and was educated at Bishops Diocesan College. After graduating from the University of Cape Town with a Bachelor of Commerce.
He joined the Greatermans group in the Ackermans division in 1951 at the age of 20 as a trainee manager. Ackermans had been founded just after World War I by his father Gus, but was sold to the Greatermans group in 1940.
Ackerman was eventually offered a position at Greatermans head office in Johannesburg. In the early 1950s, food retailing supermarkets first began to appear on the scene in South Africa.
Norman Herber, chairman of Greatermans decided to start a food retailer called Checkers. Ackerman was eventually put in charge of Checkers, making a resounding success of the business.
Ackerman won the Outstanding Young South African award in 1965, along with Gary Player and by 1966, at the age of 35, he was the managing director of 85 Checkers stores; however, he was fired in the same year.
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In response, using his severance pay and a bank loan, Ackerman bought four stores in Cape Town trading under the name Pick ‘n Pay. Under his leadership, Pick ‘n Pay eventually grew into one of Africa’s largest supermarket chains and employs people in several African countries.
He was one of the first executives to promote black South Africans to senior positions and to acknowledge black trade unions. This was at the period when such unions were banned from operating in the country.
He also abolished race classification on the company’s human resources payroll. Since the 1970s, the Ackerman Family Trust has supported hundreds of young people to become graduates across a broad range of professions.
Wendy Ackerman Net Worth
She is regarded as the second richest woman in South Africa after Wendy Appelbaum. Wendy Ackerman net worth is closely tied to her significant stake in the Pick n Pay retail chain.
Together with her husband, Wendy has played a crucial role in building and expanding the company. The Ackerman family collectively holds a substantial portion of Pick n Pay’s shares, contributing to their wealth.
While exact figures can fluctuate based on market conditions. It’s reported that Wendy Ackerman and her family have a net worth estimated to be in the range of $500 million to $1 billion.
This wealth is derived primarily from their ownership in Pick n Pay and other investments. Despite their significant fortune, the Ackermans are known for their philanthropic endeavors. Using their wealth to support various social causes, particularly in education, environmental conservation, and community development.
Philanthropy and Social Responsibility
Wendy Ackerman has always been deeply involved in the promotion of education in South Africa. Particularly in terms of providing access to education for the most needy and underprivileged in society.
She became a trustee of the Ackerman Family Educational Trust which today assists students from all over South Africa with much needed bursaries to cover their tertiary education. Providing them with greater access to opportunities. She is also a trustee of the Pick n Pay Bursary Fund which provides education assistance to the children of employees in the company.
Wendy’s work amongst the underprivileged in South African society has also seen her becoming deeply involved in initiatives to provide proper housing for the company’s employees.
She has been instrumental in developing company-assisted housing schemes for staff in traditionally black and coloured areas across the country. One of the first being a housing development in Soweto which is now known as Wendyville.
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She’s a constant source of inspiration and motivation for generations of women entrepreneurs to come, Wendy has numerous involvements outside of her role at Pick n Pay. These include:
- Life Governor – UCT Foundation
- Board Member of the AIDS Foundation
- Patron of the WHEAT Trust
- Fellow of the Royal Society of Arts (FRSA)
- Trustee of the Cape Town Holocaust Centre
- Trustee of the Cape Philharmonic Endowment Trust
- Director of the Cape Philharmonic Endowment Trust
- Patron of the Union of Jewish Women
Awards and Recognition
Wendy has received a number of accolades throughout her career, which include:
- B’nai B’rith Humanitarian Award; Woman of the Year, Union of Jewish Women, 1982
- Paul Harris Fellowship Award from Rotary International, June 2000
- 2008 – CEO Magazine Award; SA’s Most Influential Women in Business and Government
Conclusion
Wendy Ackerman’s biography is a story of dedication, hard work, and a deep commitment to making the world a better place. From her early days growing up in South Africa to her role as a co-founder of Pick n Pay and her extensive philanthropic work.
Wendy has consistently demonstrated a passion for helping others and a belief in the power of business to drive social change. Her impact on the retail industry, her advocacy for education and her efforts to empower women in business have left an indelible mark on South African society.
Wendy Ackerman is not just a business leader. She is a beacon of hope and a role model for future generations.
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