Retail Giant Spar Resets Leadership as CEO Steps Down

Retail Giant Spar Resets Leadership as CEO Steps Down. South Africa’s retail sector is facing a significant leadership shift after the resignation of Angelo Swartz from SPAR Group Ltd, a major Johannesburg Stock Exchange listed grocery and wholesale retailer. The company confirmed that its group chief executive officer will step down and leave the business on 28 February 2026, ending nearly two decades of service across multiple leadership roles.

Swartz’s departure comes during a period of intensive strategic reset for the retailer, which has been managing operational adjustments, margin pressure, litigation linked to a software implementation, and divestment of non-core international operations. Having served the group for nearly two decades, including about 16 months as chief executive, he cited personal reasons for his decision to step aside.

Board chairman Mike Bosman acknowledged Swartz’s long-standing contribution, saying his leadership helped stabilise operations and support balance sheet adjustments during a complex phase for the business. In response, the board appointed Reeza Isaacs, currently chief financial officer, as group chief executive effective 1 March 2026. Isaacs joined the company in 2025 after previously serving as finance director at Woolworths Holdings.

The group said he has been instrumental in strengthening financial governance, reinforcing capital discipline, and supporting initiatives aimed at improving margins and reducing debt. Megan Pydigadu, currently group chief operating officer, will assume the role of group chief financial officer from the same date, ensuring continuity in financial oversight.

The leadership change unfolds against a backdrop of broader operational pressures and structural adjustments within the business. The retailer has sold its Swiss and Polish operations and is progressing with plans to divest its United Kingdom business, signalling a strategic refocus on core Southern African markets.

Performance indicators in the early 2026 financial period have been mixed. Wholesale turnover from continuing operations recorded modest year-on-year growth of about 2.1% in the 18 weeks to 30 January, while gross profit margins in South Africa declined amid competitive pricing, low food inflation, and promotional activity.

Operational complexity has also been heightened by legal challenges linked to a SAP enterprise resource planning rollout at its KwaZulu-Natal distribution centre, which has prompted litigation from a franchisee.

The company has since revised its implementation approach, separating finance and distribution systems to reduce execution risk and support operational stability.

Following the announcement, the company’s share price declined, reflecting investor concern about leadership continuity and execution risk during the ongoing restructuring process. Despite the transition, the group says strategy remains.