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South Africa's SPAR Group 'Making Progress' In Search For New CEO

By Steve Wynne-Jones
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South Africa's SPAR Group 'Making Progress' In Search For New CEO

SPAR Group, which operates the SPAR brand in South Africa, Ireland, Switzerland, Poland and other markets, has said that the recruitment process to appoint a new chief executive is 'progressing well', adding that it has interviewed a number of potential candidates for the role.

In an update for shareholders, the group said that Mike Bosman will continue in his role of executive chairman of the group until a new CEO has been appointed.

Bosman stepped into the role of executive chairman at the end of January.

Company Secretary

Elsewhere, SPAR Group said that Kevin O'Brien is stepping down as company secretary at the business, continuing in his role as chief ESG officer (previously group sustainability, risk and governance executive).

Senior assistant company secretary, Shana Ashokumar, has been appointed the group's new company secretary.

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Ashokumar previously served as the company secretary and head of governance at Grindrod Bank Limited, prior to being appointed by SPAR in May 2021.

'Ms Ashokumar has also served in a private secretarial practice in the capacity of senior company secretary and was responsible for managing client portfolios and consulting on technical governance and secretarial matters relating to listed and other regulated clients," SPAR Group said.

Full-Year Performance

In the year to 30 September 2022, SPAR Group reported a 6.0% increase in group turnover.

The company's turnover for the year totaled R135.6 billion (€7.54 billion), while operating profit rose by 1.1% to R3.43 billion (€190 million). SPAR Southern Africa, the company's core market, generated 65% of the total turnover and experienced wholesale and grocery growth of 8.4% and 5.3%, respectively.

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Read More: South Africa's SPAR Group Sees Full-Year Turnover Up 6%

© 2023 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones Click subscribe to sign up to ESM: European Supermarket Magazine.

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