Spar hunts for CEO to clean up image
New boss will need to restore investors’ confidence after underperformance
22 January 2023 - 08:48
Spar Group is hunting for a new CEO to clean up the image of the food and building retailer, which admitted to irregular lending activities, and to restore investors’ confidence after years of underperformance compared to its peers.
The group, which operates in several countries in Africa and Europe, has been hit by allegations of issuing irregular loans and inflating prices of loss-making stores sold to unsuspecting franchisees. Amid this and other corporate governance issues CEO Brett Botten resigned this week and chair Graham O’Connor quit last month. ..
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