End of an era for Dis-Chem’s billionaire founder
Dis-Chem has announced that its founder, Ivan Saltzman, has resigned from his position as a non-executive director at the company, fully retiring after 48 years at the group.
Saltzman, who recently became South Africa’s ninth dollar billionaire, stepped down as an executive director of the company in June 2026, ending his time at the helm of the company.
However, he remained a non-executive director on the board. This has now also ended.
The Dis-Chem board announced late on Friday (24 July) that Saltzman had resigned from the position, effective 23 July.
“Following careful consideration, Ivan believes that the timing is appropriate to facilitate Board succession, while allowing the Company to continue building on its strong foundations,” it said.
The group said that this was the final step in a phased succession process that commenced with the appointment of Rui Morais as CEO in July 2023.
The transition was designed to balance entrepreneurial leadership and continuity with professional management, Dis-Chem said.
The board thanked the founder and former CEO for his “exceptional leadership, unwavering commitment and invaluable contribution throughout nearly five decades”.
Saltzman and his wife Lynette built Dis-Chem from a single pharmacy in Mondeor in 1978 into one of South Africa’s most recognised healthcare brands.
Over the decades, Dis-Chem expanded steadily. The company introduced its private-label product range in 1997 and established the Dis-Chem Foundation in 2006.
By the time it listed on the Johannesburg Stock Exchange in 2016, the retailer had grown to 100 stores and was generating annual revenue of R15.5 billion.
By 2026, it operated 330 stores, comprising 285 pharmacies and 45 baby outlets, while its market capitalisation had grown to R28.48 billion.
Saltzman, now retiring, said that he remains confident about Dis-Chem’s future.
“Dis-Chem has been central to my life for 48 years, and I conclude this chapter with confidence in Dis-Chem’s future,” he said.
“The Company’s succession planning always considered my retirement, and I have confidence in both the leadership and strategic direction.”
Loading ...