By Lehlohonolo Lehana.
Caption: Spar’s new CEO, Angelo Swartz (Image: Leon Hugo).
The Chief Executive Officer (CEO) of South Africa’s largest grocery retailer SPAR, Angelo Swartz, has resigned with effect from 28 February 2026.
Swartz, who became chief executive officer in October 2023 and has been with the group for 19 years, inherited a business reeling from a costly SAP implementation bungle and broader financial strain.
In announcing his resignation, the retailer said Swartz will remain available to the group over the next three months to support an orderly transition and assist in concluding key strategic initiatives currently underway.
“On behalf of the board, I thank Angelo for his leadership and long-standing service at SPAR,” chairman Mike Bosman said.
“He has been an integral part of SPAR for 19 years and has led the group with commitment and integrity during a period of significant complexity and change.”
“The board is deeply appreciative of his leadership and the achievements under his tenure. We respect his decision and thank him for the constructive and principled manner in which this transition has been undertaken.”
“The business is positioned to build on the progress achieved and to accelerate disciplined execution of its strategic priorities.”
SPAR’s current CFO, Reeza Isaacs, will take over as CEO from 1 March 2026. The retailer said Isaacs has played a pivotal role in strengthening the group’s financial position and reinforcing capital discipline.
“Under his leadership, the group advanced a more rigorous capital allocation framework, enhanced financial governance, and supported the execution of key strategic initiatives aimed at improving operational performance and balance sheet resilience,” the retailer said.
“The board is confident that Isaacs’ extensive retail experience, institutional knowledge, disciplined leadership approach and clear focus on execution will ensure continuity and momentum as the group progresses to its next phase of performance improvement.”
In turn, the company’s current COO, Megan Pydigadu, will assume the role of CFO, also from 1 March 2026.
In the interim, the group said that these operational portfolios will continue to be managed by the existing divisional leadership teams.
The group has also decided to establish a dedicated Managing Director position for the Groceries and Liquor segment for its South African operations.