Spar Group CEO Angelo Swartz exits, CFO Reeza Isaacs set to take over

The Spar Group is changing leadership again, as CEO Angelo Swartz prepares to leave the retailer at the end of this month. Swartz took over in October 2023 after nearly 20 years with the company, following a period of board instability and operational uncertainty. His successor, chief financial officer Reeza Isaacs, joined the group in January 2025 from Woolworths, where he was financial director, and now steps into the top role.

Swartz stabilizes Spar after leadership exits

Swartz’s tenure was dominated by repair work as much as strategic decision-making. He inherited a company unsettled by the abrupt exit of former CEO Brett Botten, who left amid governance concerns after less than two years. Before Botten, long-serving CEO Graham O’Connor stepped down at the 2023 annual general meeting, and interim leadership by chair Mike Bosman had maintained stability until Swartz’s appointment nine months later.

Facing operational missteps and questions about oversight, Swartz focused on simplifying Spar’s footprint. He oversaw the exit from its loss-making Poland unit, costing R4 billion ($248.2 million), and the sale of the Switzerland business for R683 million ($42.4 million). These moves were followed by a balance sheet restructuring that reduced debt and refocused the company on its core Southern African operations.

On-demand delivery shifts grocery competition

The group also worked through the aftermath of a failed technology rollout at its KwaZulu-Natal distribution center, which disrupted operations and led to R1.6 billion ($99.3 million) in lost turnover. In January, franchisee Giannacopoulos family filed a claim in the Durban High Court seeking R168.7 million ($10.5 million) in damages, highlighting the impact on the 46 stores they operate.

Despite these challenges, Spar reported a 2.4 percent increase in like-for-like sales in Southern Africa for the 52 weeks ending Sept. 26, 2025. Competition, however, is intensifying. On-demand delivery platforms have shifted the market toward centralized operations. Checkers Sixty60 dominates with an estimated 80 percent share, leaving Pick n Pay’s asap! and Woolies Dash to divide the remainder. Spar 2U operates in 636 stores but contributes only a small share, though partnerships with Uber Eats now bring over 300 stores onto the platform.

Leadership shift at Spar Group

Leadership changes are continuing internally. Megan Pydigadu, currently chief operating officer, will move into the CFO role as Isaacs steps up. Bosman said the board is “deeply appreciative” of Swartz’s guidance through a period of “significant complexity and change,” noting the transition has been handled with care.

Looking ahead, Spar is negotiating the sale of its South-West England business, leaving Southern Africa and Ireland as core operations, alongside a minor joint venture in Sri Lanka. The group also plans to appoint a dedicated managing director for Southern African groceries and liquor to improve accountability and performance. 

Isaacs inherits a leaner, more focused company, but one still navigating technology challenges and a competitive retail environment. His financial expertise may bring discipline to the group as it adapts to a rapidly evolving market.