The company announced the CEO’s resignation due to his wife being diagnosed with a life threatening illness.
Hook has been Spar’s CEO for seven years but has worked for the retailer for a total of 29 years and will continue to remain a director of the company.
“Spar has been Wayne’s priority for the past 29 years and he now believes that his wife and family have to be his main priority,” said the company in a statement released on Tuesday.
His decision is underpinned by his view that since he cannot be fully and completely committed to the position, he should make way for a person who can meet such requirements.
This has resulted in Graham O’Connor being appointed as the new CEO.
O’Conner was previously the divisional managing director of Spar’s Kwa-Zulu Natal division and is currently a partner in five Spar stores.
“The Board is of the opinion that Graham’s passion for the Spar brand and his strong leadership skills will ensure him success in his new role as CEO and the on-going success of the Company,” continued the statement.