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

Spar Group says the resignations of its chairperson and deputy chairperson are “the right decision for them” and have been done “in the best interests of the company”.

Chairman Mike Bosman and deputy chair Dr Shirley Zinn resigned with immediate effect on Monday, 17 August 2026.

This follows the resignation of former CEO Angelo Swartz earlier this year. His departure raised questions about leadership within the group and Spar’s future.

Spar supports the resignations

“While Bosman and Zinn continue to have the full support of the board, taking into consideration the context of the period that both directors and the board have recently experienced, Bosman and Zinn have separately concluded that stepping down and resigning from the board is the right decision for them and in the best interests of the company,” said the retailer on Monday morning.

Bosman was appointed chairman in December 2022. Zinn joined as a board member in February 2023 and was appointed deputy chair in June 2023.

Spar recognised the value Bosman had, saying he was appointed chairman “at a time of exceptional difficulty for the group due to the serious governance matters previously reported to shareholders. Following the retirement of the previous CEO, Brett Botten, in January 2023, Bosman agreed to serve in an executive capacity as executive chairman, providing continuity of leadership at short notice and at significant personal commitment.”

Threats to Spar chair and deputy chair

The group, in its note to shareholders, gave no reason for the two resignations. However, an article published by Financial Mail, citing a joint statement from the former chair and deputy chair, describes personal attacks, hostility and, at times, threats from “certain current and former Spar retailers and former employees”.

This is the latest, and possibly the most serious, in a series of resignations that have dogged the group since December 2022, resulting in a slew of top executives leaving the company.

While Spar said under Bosman’s leadership, “the group’s governance, risk and control environment strengthened, the portfolio was simplified, and operational continuity was restored”, it made no mention of a petition issued by the National Council of the Spar Guild in May calling for his resignation.

Council hits at Bosman

The council represents the independent retailers who own and run Spar outlets across the country.

According to Financial Mail, the petition said that Bosman has become associated with the period of decline, reputational damage, strategic uncertainty, shareholder value destruction and a breakdown in trust between the group and the retailer network.

“His continued presence as chairman now stands as an obstacle to renewal, confidence-building and the restoration of constructive relations across the Spar system,” it said.

However, the group backed the former chair, saying “the group stands very firmly in support of Bosman’s leadership and views the request as baseless, vexatious, malicious and without merit.”

What about Zinn?

Zinn was also the chair of the remuneration committee. Spar said “she was central to strengthening the group’s remuneration governance and led the introduction of a malus and clawback policy for executive management and a revised minimum shareholding requirement to align with shareholder expectations and market practice”.

While it highlighted her work, the group made no mention of an alleged investigation into potential conflicts of interest arising from Zinn’s directorships of several companies, including Tuesday Consulting.

Tuesday Consulting is an executive search and talent advisory firm based in Johannesburg. It specialises in sourcing senior executives, board-level leaders and specialised talent across various sectors in South Africa and Africa.

It is alleged that Spar is a client of Tuesday Consulting and that it has never disclosed this, or that Zinn is a director there. The Citizen has asked the group for a comment. It will be added once received.

The future

Lwazi Koyana, currently an independent non-executive director and chair of the risk committee, has been appointed interim independent non-executive chair with immediate effect.

The group described Koyana as a “highly respected business leader and chartered accountant, who brings deep expertise across finance, governance, risk and entrepreneurship, together with an intimate understanding of Spar, gained through more than seven years on the board.”

Spar has reassured shareholders that it is working to appoint replacements for Bosman and Zinn. “The nominations committee has begun identifying and appointing new non-executive directors to the board, including directors with relevant retail experience.”

Road to restoring profitability

The group added that its executive team remains unchanged and its focus on restoring the retailer’s profitability also remains unchanged, despite being without two key board members.

“[The group] will continue to focus on restoring retailer profitability, strengthening wholesale and distribution performance and unlocking the full potential of Spar’s independent retail model.

“[Spar’s] priorities remain stronger procurement and sharper pricing; improved brand and marketing effectiveness; stronger distribution execution; greater support to help retailers manage costs and improve profitability; and continued development of Spar’s retail technology, digital and convenience capabilities – alongside sustainable value creation for all employees, customers and communities.”