This article originally appeared on Moneyweb.
Jürgen Schreiber joined the board of Edcon in 2011 as CEO, and was tasked with turning around a once great retailer.
Poor buying, a lack of investment in new space, and grungy interiors saw customers abandoning chains like Edgars, Boardmans, and Jet in their droves. Schreiber, a consummate retailer with 30 years of experience, had no time to lose.
With losses mounting and R27 billion in debt threatening to engulf the group, he and his team have established and implemented a new strategy for the group; launched new concept stores; invested significant capital in new space and refurbished the Edgars stores – and that’s just the start.
It turns out he is a stickler for time. Meetings start and end at the designated times. He keeps all his appointments. He gets up at 4:30 and uses this time to plan his day and order his thoughts. Having worked in a number of companies and countries, including Spain, the Netherlands, China, and Singapore, he has become highly disciplined when it comes to blocking out distractions.
He is very clear about the strategy needed to transform Edcon, and has focused on ensuring that the right management is in place to deliver on the goals that have been set.