Why I stepped down as Spar CEO – Swartz

Angelo Swartz, Spar Group’s outgoing CEO. Picture: LinkedIn/Angelo Swartz On Monday, outgoing CEO of The Spar Group Angelo Swartz personally addressed his “situation” and explained his decision to leave the group after nearly two decades. He told investors that the reset process to get the group back on sustainable footing was “exceptionally complex”.

He says: “The last five years in particular have required extraordinary focus and intensity. While I’ve been deeply committed to the business, its people and our retailers, the role has come at a significant personal cost. It’s time for me to prioritise my family after a demanding chapter.” Swartz was appointed in October 2023.

He resigned on Friday and will leave at the end of February. He will remain available to the new leadership for the next three months to “support an orderly transition and assist in concluding key strategic initiatives currently underway”. This shock news saw the group’s share price close 7% lower at R83.89 on Friday.

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Current CFO, Reeza Isaacs, will take over as CEO, while COO Megan Pydigadu will become CFO. Isaacs described Swartz’s contribution over the past year that they have been working together (Isaacs only joined in January 2025) as completely “selfless”. The group says wholesale turnover in Southern Africa recorded “muted” growth of 0.9% year-on-year in the 18 weeks ended 30 January 2026.

Its nascent Spar Health business grew turnover by 23% over the 18 weeks, with the grocery and liquor segment up 0.8%. Build It reported a sales decline of 2.4% impacted by “sector-wide construction pressure and adverse weather”. In South Africa (excluding neighbouring regions), retail sales grew 1.9% year-on-year (and by 2.25% on a like-for-like basis).

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