Staff Writer
Spar Group Limited has announced the resignation of group chief executive officer Angelo Swartz, effective 28 February. Swartz has also stepped down as an executive director.
Swartz served the group for 19 years and became Group CEO in October 2023. During his tenure, he focused on stabilising operations, simplifying the portfolio and strengthening the balance sheet.
Chairman Mike Bosman said the board appreciates Swartz’s leadership and long service. He said Swartz guided the group through a period of complexity and change. The board said the company remains positioned to build on progress made and to accelerate execution of its strategic priorities.
The board confirmed that the group’s strategy remains unchanged. It will continue to focus on improving performance in Southern Africa, strengthening margins, reducing debt and simplifying the portfolio. Distribution centre operations, retailer support and other strategic initiatives will continue.
The board has appointed current group chief financial officer (CFO) Isaacs as group CEO with effect from 1 March 2026.
Isaacs has served as group CFO and played a role in strengthening the company’s financial position over the past year. He helped advance capital allocation measures, improve financial governance and support strategic initiatives aimed at improving operations and balance sheet strength.
Following Isaacs’ appointment, current group chief operating officer Megan Pydigadu will take over as group CFO, also from 1 March 2026.
The board has also decided to create a managing director position for the groceries and liquor segment in Southern Africa. The role will focus on operational leadership in the group’s main retail segment and strengthen accountability for performance improvements.
