Spar appoints Lwazi Koyana as chair and Pattison to board

Résumé détaillé

Group says it undertook a rigorous process to renew its composition.

The Spar Group has appointed Lwazi Koyana as its chair, and former Massmart chief executive Grant Pattison as an independent non-executive director.

Koyana, a chartered accountant who has served as acting chair since 17 August, takes up the position with immediate effect.

He is the board’s longest-serving member, having served during a turbulent period marked by international challenges, mounting debt and a troubled software implementation.

He has more than 30 years’ experience in investment management and corporate finance, the company said in a media statement on Thursday.

Pattison spent about 16 years at Massmart, rising to the position of chief executive, where he oversaw the landmark sale of a 53% majority stake to Walmart in 2011.

He later led NRG Renew Africa and served as CEO of Edcon, the owner of Edgars, when it entered business rescue.

Another potential addition to the board is turnaround specialist Phil Roux, a former Nampak CEO.

Spar said it would update shareholders and the market once he had made a decision.

In September, a leaked letter from the Spar Guild, which represents the group’s independent retailers, backed Roux for the role.

Début de l'article, extrait de Moneyweb. Pour lire la suite, ouvrez l'article chez le média.