Brett Botten scores despite Spar’s horrible year
Former CEO gets R25m and SAP programme still haunts the retailer
It was something of an understatement to describe Spar’s 2023 as “challenging”, as nonexecutive director Trudi Makhaya did. Six of the group’s directors retired or resigned, including chair Graham O’Connor and CEO Brett Botten; five new directors were appointed, including a new CEO and a COO. Two more nonexecutives are set to join next month.
The company is also selling its Polish business, forcing a R444.2m impairment of goodwill. A new SAP IT system turned out to be an expensive failure, costing R1.7bn in lost sales and R780m in lost profit. That’s before any compensation that might be paid to the independent retailers who lost sales or were forced to use more expensive suppliers...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.