Personal attacks, hostility, threats? Inside Spar chair and deputy chair resignations

Spar Group has announced that its chairperson and deputy chairperson, Mike Bosman and Dr Shirley Zinn, have resigned with immediate effect. This comes after the departure of former CEO Angelo Swartz earlier this year, sparking questions about leadership within the company. The resignations, which Spar supports, follow a period of personal attacks, hostility, and threats against Bosman and Zinn from some current and former Spar retailers and employees.

While Spar recognizes the value Bosman brought to the company, particularly during a difficult time due to serious governance matters, they believe stepping down is in their best interests. Zinn, who was central to strengthening the group's remuneration governance, is also leaving the board. An interim independent non-executive chair, Lwazi Koyana, has been appointed to lead the company in the interim.

Spar assures shareholders that it is working to appoint replacements for Bosman and Zinn, with the nominations committee beginning the process of identifying new non-executive directors with relevant retail experience. The group remains focused on restoring profitability, improving distribution performance, and developing its retail technology and digital capabilities.