Spar appoints Angelo Swartz as new CEO

Angelo Swartz is set to take over as the new CEO and executive director of the board of JSE-listed grocery chain Spar from 1 October 2023, ending a period of leadership uncertainty for the retailer a few months later than forecasted.

On Friday, Spar confirmed Swartz’s official appointment to investors via a Sens announcement.

The new CEO will take over from Mike Bosman, who stepped in as executive chair of the troubled retailer in February following Brett Botten’s retirement in January after only two years at the helm.

Read: Spar battles power cuts and inflation

Botten retired after the retailer faced questions about its corporate governance structures and its treatment of store owners.

Following Botten’s departure, Spar assured investors that it would not take longer than three months to appoint a new CEO, but Swartz’s appointment comes almost six months after that promise.

Swartz is credited with having extensive experience within the group and the South African retail market, having been with Spar for 16 years and competitor Woolworths before that.

“It is a privilege and an honour to be appointed the group CEO of Spar. I am grateful to the board for their confidence in me to lead the group. Spar is a business founded on strong relationships and an entrepreneurial spirit, and I look forward to embracing the spirit of both as I get to know all of our stakeholders.

“I believe my operational experience, deep knowledge and understanding of the Spar culture, and fresh outside perspectives will position Spar well on our path to modernise the business. I look forward to guiding the business through this next phase of its growth.”

Spar’s share price 

Bosman to resume his role

Bosman will, in October, return to his position as independent non-executive chair of the board and continue to serve as independent non-executive chair on Spar’s major foreign subsidiary boards.

Bosman welcomed Swartz’s appointment saying he and the board have no doubt the new CEO is the best candidate to take Spar forward.

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“Angelo has been part of the South African executive team for four years and has played an integral leadership role in South Africa during this time. During my short tenure as executive chair of Spar, I have had the pleasure of working with him on several projects. I look forward to supporting Angelo through this transition and supporting the group executive team, including each country’s CEOs,” Bosman said.

Swartz was appointed alongside Megan Pydigadu, who will step into the group chief operating officer role from 1 November 2023. Pydigadu has extensive restructuring, operational and change management experience. Hopefully, helping Swartz turn the troubled retailer around.

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