South African billionaire Patrice Motsepe has stepped down as executive chairman of African Rainbow Minerals (ARM), but will remain on the miner’s board.<\/p>\n\n\n\n
Motsepe has retired from his position as Executive Chairman and as an employee of the company that he founded with effect from Monday, 16 February 2026.<\/p>\n\n\n\n
He will continue to be a director of the company and will serve as the non-executive chairman of the board with effect from and including 16 February 2026.<\/p>\n\n\n\n
The move follows the effective date of the JSE Simplification Project. Per the new listing requirements, the chair of ARM cannot also serve as an executive director.<\/p>\n\n\n\n
“I look forward to continue contributing to the global competitiveness of ARM in my new capacity as non-executive chairman,” said Motsepe.<\/p>\n\n\n\n
“I have undertaken my new role as non-executive chairman to ensure compliance with the Listings Requirements.”<\/p>\n\n\n\n
David Noko will continue in his role as the company’s lead Independent Non-executive Director.
Also, with effect from 16 February 2026, Jacob van der Bijl was appointed as the company’s new Chief Operating Officer.
“I would also like to welcome Jacques to his new role as Chief Operating Officer of ARM. Jacques is a world-class mining engineer and has been working for ARM for many years,” said Motsepe.<\/p>\n\n\n\n
“ARM remains committed and focused on creating value for its shareholders and benefitting its stakeholders.” <\/p>\n\n\n\n
Motsepe is South Africa’s only black dollar billionaire, with large stakes in Sanlam, TymeBank owner ARC and Mamelodi Sundowns. He is currently the president of the Confederation of African Football (CAF). <\/p>\n\n\n\n
Motsepe is also the brother-in-law of President Cyril Ramaphosa and a major donor to the ANC.<\/p>\n\n\n\n
Given that Ramaphosa’s second term ends in 2029, media reports have speculated that Motsepe could run for the ANC presidency.<\/p>\n\n\n\n
He has previously distanced himself from reports, saying he has no political ambitions.<\/p>\n","protected":false},"excerpt":{"rendered":"
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