'Not a country of losers': Wounded Spar confident in its turnaround, as well as SA's | Business

In the five months since he was catapulted into the hot seat at Spar, interim CEO Mike Bosman has been working overtime to put out fires and clean house as he looks to restore the retailer's battered image.

Bosman, who was appointed as chair in December before having to become interim CEO in February, told News24 while his had been an"overnight" appointment, much has been done to resolve its issues. He concedes, however, that there has been an"enormous hit to the reputation" of the company. Not only have a raft of changes been made to improve governance, but Bosman, who is also Spur's chair and a professional airline pilot, has also personally visited some of the group's retailers engaged in a dispute with the JSE-listed group.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month.

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S.African retailer Spar's interim earnings slump 30%South African food retailer Spar on Wednesday posted a 30.3% fall in its half-year earnings, led by inflationary pressures on consumers and increased operational costs arising from rolling blackouts.
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COMPANY REPORT: Botched software system roll-out, power issues and inflation cost Spar dearlyWhile the installation of solar power plants has helped to ease some pressure on the business, other inflationary cost pressures from fuel, energy and problems with a new IT system continued to bite.
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