In a surprise development, Takealot.com has announced that its CEO, Kim Reid, is stepping down from the role. He is not leaving Takelot, though – he will become chairman of South Africa’s largest online retailer later this year.

In the interim, while Takealot seeks a new group CEO – who, it said, “will reflect the company’s commitment to transformation” – Reid will fill the newly created role of group CEO.

“Once chairman, Kim will work closely with the group CEO and (Takealot parent) 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,” Takealot said in an e-mailed statement on Friday.

“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,” Reid said in the statement.

“The business has never been in a better position, poised for the potential growth in e-commerce 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,” he said.

New CEO role

In addition to creating a new group CEO position, the company is also creating a 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 (Reid, for now), who will work with the leaders of Takealot.com, Superbalist.com and Mr D Food.