SPAR CEO Angelo Swartz Resigns, Reeza Isaacs Appointed As New Group CEO

After 19 years of dedicated service, including two and a half years as Group Chief Executive Officer, Angelo Swartz will depart SPAR on 28 February 2026.

His exit marks the end of a lengthy tenure that saw him guide the retail giant through a period of substantial operational complexity and strategic repositioning.

Swartz took the helm in October 2023 during a turbulent chapter for the group.

His leadership focused on three critical pillars: operational stabilisation, portfolio simplification, and balance sheet strengthening.

To ensure business continuity, Swartz will remain available to the group for three months post-departure, assisting with key strategic initiatives and facilitating a seamless handover.

A Succession Plan

Moving swiftly to fill the vacancy, the Board has elevated Group CFO Reeza Isaacs to the position of Group CEO, effective 1 March 2026.

Isaacs, who has served as Chief Financial Officer, has been instrumental over the past year in reinforcing SPAR’s capital discipline.

He has driven the implementation of a rigorous capital allocation framework, enhanced financial governance, and supported the strategic initiatives focused on operational performance and balance sheet resilience.

The Board expressed confidence that Isaacs’ deep retail experience and institutional knowledge will ensure the group maintains its momentum as it enters its next phase of performance improvement.

In a corresponding move, current Group Chief Operating Officer Megan Pydigadu has been appointed as the new Group CFO, also taking effect on 1 March 2026.

Pydigadu brings a wealth of cross-sectoral executive experience, having held senior finance leadership positions prior to her COO role.

Her expertise in financial management, governance, and strategic execution is expected to bolster SPAR’s ongoing focus on disciplined capital allocation and cost management.

Spar. Image by shop-sa.co.za

New Dedicated Leadership for Core Grocery and Liquor Segment

In a strategic move to sharpen execution, the Board has resolved to establish a dedicated Managing Director position for the Groceries and Liquor segment within the core Southern Africa retail business.

This new role aims to provide targeted operational leadership and reinforce accountability in the group’s primary value-generating division.

An expedited Nomination Committee process is underway, with a clear preference for an internal appointment. Shareholders can expect an update following the Board’s March 2026 meeting.

Strategic Direction Unchanged

Despite the leadership changes, the Board has confirmed that SPAR’s strategic priorities remain firmly intact. The group will continue to focus on strengthening performance in Southern Africa, improving margin resilience, advancing balance sheet deleveraging, and simplifying its portfolio.

With distribution centre operations and retailer support structures continuing without disruption, SPAR signals that this leadership transition is designed to accelerate—rather than alter—its path toward disciplined execution and sustainable growth.