IT’S NOT ABOUT IDEOLOGY
A world without ideological
differences cannot exist. But we
can all agree on one thing – we
need to grow the economy, he
says. “Where we differ is how –
more state intervention or less
state intervention?” But even if it’s
more intervention, he says, you
cannot blame a poorly run state on
ideology. “We must professionalise
our civil service. Fraud and faked
qualifications has nothing to do
with ideology. The state is also
a business. You need the most
competent people to do the work.
Pay them well and let them get on
with the job.”
The decline in South Africa’s tourism
industry frustrates him. “It is the
one industry whose growth has
consistently outperformed the
world average. To make mistakes
that have nothing to do with
ideology – that is just unintelligent.”
HOLDING PEOPLE TO
ACCOUNT
Wiese doesn’t consider himself
a hard task-master. “As Pieter
Erasmus [CEO Pepkor] says you
give people a mandate with the
authority and responsibility to carry
it out. From there they mark their
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ISSUE 6 – SEPTEMBER 2015
own tests. It is about being clear
about what you want.”
He concedes in negotiations he is
known to be tough – though he
doesn’t see it that way. “There is
always give and take – you have
to decide on the hoof what you
can give.”
What about the R63 billion sale of
Pepkor to Steinhoff? Some people
believe that Wiese and Brait got
the better end of the bargain?
“Instinctively Markus [Jooste, CE
Steinhoff] and I believed that
putting these businesses together
would be a 2+2=5 deal.
Yes Steinhoff paid a full price for
Pepkor. But it’s a brilliant business
– it’s not a good business – it is
an exceptional business with
exceptional management. You
will never get a business like
that cheaply.
“But look what happened to
Steinhoff since the deal – the share
has moved from R52 to R80. That’s
how good deals work.”
LEADING FROM THE FRONT
When you are running a business,
as an operational CEO, it is essential
to be hands on, to lead from the
front, he says.
“My input is on another level. I don’t
run businesses. My input is more
strategic. I see myself as providing
rock solid support to my colleagues
who run businesses – Markus
Jooste, Whitey Basson, Arnold
Goldstone (Invicta), Pieter Erasmus.
They will never doubt their support
from me.”
ENGAGEMENT IS THE SPICE
OF LIFE
Wiese could never be passively
invested in the markets. “My
investments are driven by two
things. One I like the engagement.
I like to believe that I can make a
difference. And two, I have a moral
commitment to the people who
have invested their lives in these
businesses. They will never wake
up and find I have sold out and am
riding into the sunset. Even with
our new businesses – New Look,
Iceland and Virgin Active - we are
not owners passing through.”
So are you a retailer or a
businessman? “A businessman.
For me it is about developing
businesses, developing people
and making a contribution to my
country. It’s about not wasting time
on earth and hopefully making
life better.” ■