SPAR Group chairman Mike Bosman and deputy chair Dr Shirley Zinn resign amid board tensions

SPAR Group's chairman Mike Bosman and deputy chair Dr Shirley Zinn have abruptly resigned from the board, citing hostility from some retailers and former employees as the reason for their decision. Their resignations will be effective on August 17. Despite their decision, the board maintains their full support, but both directors believe their continued involvement has become untenable.

The pair acknowledged that disagreement and criticism are part of their role, but they felt a line had been crossed due to sustained personal attacks, hostility, and even threats. They declined to name the individuals involved or provide further details about the alleged threats. The resignations follow a period of escalating tension between SPAR and its independent retailers.

The company has been undergoing a significant turnaround following a challenging period, which included changes to its executive leadership, the sale of overseas operations, and efforts to reduce debt. Bosman took on the role of chairman in December 2022, during a challenging time for the company due to serious governance issues previously reported to shareholders.

Since then, his chairmanship has seen improvements in governance, risk, and control, as well as a simplified portfolio and restored operational continuity. Zinn joined the board as an independent non-executive director in February 2023 and became deputy chair in June of the same year. In her capacity as chair of the remuneration committee, she implemented policies regarding executive bonuses and minimum shareholding requirements.

She also served on the nominations and social, ethics, and sustainability committees. The board expressed gratitude for their service and acknowledged the legacy of their work. SPAR has appointed Lwazi Koyana, an independent non-executive director and chair of the Risk Committee, as interim chairman from August 17, pending a permanent succession process.