JOHANNESBURG - Spur Corporation, the South African steakhouse franchise restaurant chain, said on Friday its founder and executive chairman Allen Ambor would retire from the company and the board with effect from 1 March 2019 after 51 years' of service.
The 76-year-old Ambor founded Spur when he opened the first restaurant in Newlands, Cape Town, in 1967 and has served as executive chairman of the board since the company's listing on the JSE in 1986.
Spur Corporation now offers investors exposure to four of South Africa’s largest and established sit-down restaurant chains – Spur Steak Ranches, Panarottis Pizza Pasta, RocoMamas and John Dory’s Fish, Grill & Sushi.
The group’s presence is predominantly in South Africa, but extends to Australasia, Mauritius, the Middle East, and a growing multitude of countries in Africa, including Namibia, Botswana, Lesotho, Swaziland, Zimbabwe, Zambia, Malawi, Tanzania, Kenya, Uganda and Nigeria.
"We thank Allen for his unrivalled passion, commitment and inspiration over the past five decades in building Spur Corporation into the market-leading business that it is today," Group chief executive Pierre van Tonder.
Allen Ambor, founder and chairman of Spur Corporation will retire from the company and the board with effect from 1 March 2019 after 51 years' of service (Pic: Spur Corporation website)
"He has overseen the growth of the business from a single outlet to a multi-brand franchisor with over 600 restaurants in South Africa and internationally."
Ambor is required to serve a 12-month notice period In terms of his employment conditions. Spur said that the nominations committee of the board would shortly commence the process to identify a new board chairman.