Phil Roux turns down role on Spar board

Résumé détaillé

But Roux says he would have approached the role with alacrity.

Turnaround specialist Phil Roux, who has declined a position on the Spar board, said he believes “Spar has tremendous value to be unlocked”.

Roux told Moneyweb it would be unprofessional to give reasons for why he turned the position down.

Spar’s share price dropped as much as 5.02% on Friday morning before recovering sharply after its announcement that Roux had declined a position.

It also announced on Thursday night that it had appointed its longest-serving board member, who joined in 2019, Lwazi Koyana as chair.

Former Massmart and Edcon CEO Grant Pattison, who was in charge when Edgars went into business rescue, was also appointed on Thursday evening as a non-executive director – having resigned from struggling retailer’s Pick n Pay’s board – with immediate effect in October.

Read: Spar appoints Lwazi Koyana as chair and Pattison to board Spar Guild backs Phil Roux for Spar chair hot seat

A leaked letter dated 10 September from the Spar Guild, which represents the retailers, had backed Roux for the position saying it presented an “important opportunity for aligment” following months of conflict over the group’s leadership.

The guild said at the time Roux “brings extensive experience as a chief executive of listed companies, together with experience across the retail value chain and a strong track record of improving and repositioning underperforming businesses across a number of industries”.

Read: Coronation dumped Spar at R40 after buying above R90 Spar warns 2026 performance will lag 2025 as turnaround progresses Coronation slashes stake in Spar to 0.17%

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