Wrap Text
Group leadership changes
THE SPAR GROUP LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1967/001572/06
JSE and A2X share code: SPP
ISIN: ZAE000058517
("SPAR" or the "Group" or the "Company")
GROUP LEADERSHIP CHANGES
RESIGNATION OF GROUP CHIEF EXECUTIVE OFFICER
The board of directors of SPAR ("Board") hereby announces that Mr Angelo Swartz has resigned as
Group Chief Executive Officer ("CEO") and as an executive director of the Company, effective
28 February 2026.
Mr Swartz has served the Group for 19 years, including as Group CEO since October 2023. During his
tenure, he led the business through a challenging period of operational stabilisation, portfolio
simplification and balance sheet strengthening. The Board thanks him for his contribution during this
important phase.
Mr 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.
SPAR's Chairman, Mr Mike Bosman commented: "On behalf of the Board, I thank Angelo for his
leadership and long-standing service at SPAR. 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."
The Board wishes Angelo well in his future endeavours.
The Board confirms that the Group's strategic direction remains unchanged, including:
• strengthening performance in Southern Africa;
• improving margin resilience;
• advancing balance sheet deleveraging; and
• simplifying the Group's portfolio.
Distribution centre operations, retailer support structures and all ongoing strategic initiatives continue
without disruption.
APPOINTMENT OF GROUP CHIEF EXECUTIVE OFFICER
The Board has appointed Mr Reeza Isaacs, the current Group Chief Financial Officer ("CFO"), as Group
CEO with effect from 1 March 2026.
Mr Isaacs has served as Group CFO and, over the past year, 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.
His stewardship has contributed materially to improving financial oversight, embedding cost discipline
and advancing the Group's margin recovery and deleveraging priorities.
The Board is confident that Mr 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.
APPOINTMENT OF GROUP CHIEF FINANCIAL OFFICER
Following Mr Isaacs' appointment as Group CEO, Ms Megan Pydigadu, the current Group Chief
Operating Officer ("COO"), has been appointed Group CFO with effect from 1 March 2026.
Ms Pydigadu brings extensive executive experience across both operational and financial portfolios.
Prior to her COO role, she held executive finance leadership positions across various companies and
sectors and has deep expertise in financial management, governance and strategic execution.
Her appointment ensures continuity, institutional depth and strengthened financial oversight as SPAR
continues to focus on disciplined capital allocation, cost management and balance sheet resilience.
With Ms Pydigadu assuming the role of Group CFO, the Group will undertake a structured review of the
portfolios previously overseen by the COO. In the interim, these operational portfolios will continue to
be managed by the existing divisional leadership teams. Further updates on any structural refinements
will be communicated in due course.
STRENGTHENING THE CORE GROCERY AND LIQUOR LEADERSHIP
To enhance execution in the Group's main Southern Africa retail business, the Board has decided to
establish a dedicated Managing Director position for the Groceries and Liquor segment. This new role
will deliver targeted operational leadership for the Group's key value-generating segment and reinforce
accountability in driving performance improvements.
An expedited Nomination Committee led process has been initiated, with a preference for an internal
appointment. The Board expects to update shareholders following its March 2026 meeting.
As the Group enters its next phase of operational focus and execution intensity, the Board believes that
this leadership transition will accelerate delivery against the Company's key performance priorities.
Umhlanga
20 February 2026
Sponsor
One Capital
Date: 20-02-2026 07:05:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
