Swartz’s departure comes during a challenging period for Spar, as the JSE-listed retailer navigates operational resets, margin pressure, litigation linked to a troubled software rollout, and divestment of non-core international businesses.
Swartz, who has served at Spar for nearly two decades across multiple roles including head of the KwaZulu-Natal distribution division prior to becoming CEO in October 2023, cited personal reasons for his decision.
Addressing investors recently, he explained that the sustained intensity of the company’s reset efforts, particularly over the last five years, had come at a “significant personal cost,” prompting his choice to prioritise family after a demanding chapter of leadership.
Chairman Mike Bosman thanked Swartz for his leadership and long-standing service, noting his contribution to stabilising operations and balance sheet adjustments during a complex period.
In response to the leadership change, Spar’s board has appointed Reeza Isaacs, the company’s chief financial officer, as group CEO with effect 1 March 2026.
Isaacs joined Spar in 2025 and previously held senior roles including finance director at Woolworths Holdings.
The group said Isaacs has played a pivotal role in reinforcing financial governance, strengthening capital discipline, and supporting initiatives to improve margins and deleveraging. His leadership is expected to guide Spar through the next phase of disciplined execution and operational recovery.
Alongside this transition, Megan Pydigadu, currently Group COO, will assume the role of group CFO from 1 March, ensuring continuity in financial oversight as the business pursues strategic priorities.
Swartz’s tenure as CEO occurred against a backdrop of ongoing transformation and external pressures. Spar saw the sale of its Swiss and Polish businesses as part of efforts to streamline operations and reduce debt. The group is also in the process of divesting its UK operations, reflecting a strategic refocus on core Southern African retail markets.
The retailer’s performance metrics in the early 2026 financial year have been mixed. While wholesale turnover from continuing operations recorded modest growth of around 2.1% year-on-year in the 18 weeks to 30 January, gross profit margins in South Africa declined due to competitive pricing, low food inflation, and targeted promotional activity.
Adding to operational complexity, Spar has faced legal challenges linked to a botched SAP enterprise resource planning rollout at its KwaZulu-Natal distribution centre, which has generated litigation from a franchisee alleging supply disruptions and financial losses.
Amid these pressures, Spar has revised its SAP implementation strategy to separate finance and distribution systems, aiming to reduce execution risk and stabilise core operations.
It's been reported that the announcement of Swartz’s resignation triggered a notable decline in Spar’s share price, reflecting investor concerns about leadership continuity and execution risk as the business navigates reset and margin recovery challenges.
Despite the turbulence, company leadership has emphasised that the current transition is well-aligned with strategic priorities and that the foundation established under Swartz’s tenure provides a platform for focused execution under the new CEO.
The group also plans organisational adjustments, including a dedicated managing director role for the key Grocery & Liquor segment to sharpen operational accountability.
Swartz’s resignation marks a significant leadership shift at one of South Africa’s largest retail groups. As Spar transitions to new leadership under Isaacs, the focus will be on stabilising performance, improving margins, and executing structural initiatives that strengthen competitiveness in the region’s challenging retail landscape.
The coming months will be pivotal as Spar seeks to convert strategic reset into sustainable growth.
