South African retailer SPAR Group’s chairman Mike Bosman and deputy chair Shirley Zinn have resigned from the company’s board with immediate effect, triggering a leadership change at the retailer.
The resignations took effect on Monday, with the company appointing Lwazi Koyana, an independent non-executive director and chairman of its Risk Committee, as interim chairman. A formal search for a permanent successor will now begin.
SPAR said both Bosman and Zinn continued to have the full support of the board but had separately concluded that stepping down was in the best interests of the company. The retailer did not initially provide further details on the circumstances surrounding their departures.
In a joint statement, however, Bosman and Zinn said they had experienced sustained personal attacks, hostility and, at times, threats from some current and former SPAR retailers and former employees. They said disagreements and criticism were expected as part of serving on the board of a listed company, but believed the situation had crossed a line.
Bosman became SPAR chairman in December 2022, during a difficult period for the retailer that included governance problems previously disclosed to shareholders. Following the retirement of the group’s chief executive in January 2023, he also served as executive chairman until October that year, providing leadership continuity during the transition.
SPAR credited Bosman with helping strengthen its governance, risk and control systems, simplify the group’s portfolio and restore operational stability. He also maintained regular engagement with shareholders and investors throughout his tenure.
Zinn joined SPAR’s board in February 2023 and became deputy chair four months later. As chair of the Remuneration Committee, she helped introduce changes including a malus and clawback policy for executives and revised minimum shareholding requirements.
She also served on the Nominations and Social, Ethics and Sustainability committees, contributing to board renewal and initiatives focused on transformation, ethical conduct and inclusion.
Koyana will lead the board while SPAR’s nominations committee conducts a permanent succession process. The retailer also plans to appoint additional non-executive directors based on a skills assessment that will prioritise retail, independent retailer and sector experience.
The leadership shake-up comes as SPAR continues efforts to improve retailer profitability and strengthen its operations under CEO Reeza Isaacs. The company has indicated that its broader strategic direction remains unchanged despite the board changes.
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Emmanuel Abara Benson is a business journalist and editor covering artificial intelligence, global markets, and emerging technology.
He has previously worked with Business Insider Africa and Nairametrics, reporting on finance, startups, and innovation.
His work focuses on AI, digital economy, and global tech trends.
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