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.<\/p>\n\n\n\n
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.<\/p>\n\n\n\n
However, he remained a non-executive director on the board. This has now also ended.<\/p>\n\n\n\n
The Dis-Chem board announced late on Friday (24 July) that Saltzman had resigned from the position, effective 23 July.<\/p>\n\n\n\n
“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.<\/p>\n\n\n\n
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.<\/p>\n\n\n\n
The transition was designed to balance entrepreneurial leadership and continuity with professional management, Dis-Chem said.<\/p>\n\n\n\n
The board thanked the founder and former CEO for his “exceptional leadership, unwavering commitment and invaluable contribution throughout nearly five decades”.<\/p>\n\n\n\n
Saltzman and his wife Lynette built Dis-Chem from a single pharmacy in Mondeor in 1978 into one of South Africa\u2019s most recognised healthcare brands.<\/p>\n\n\n\n
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.<\/p>\n\n\n\n
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.<\/p>\n\n\n\n
By 2026, it operated 330 stores, comprising 285 pharmacies and 45 baby outlets, while its market capitalisation had grown to R28.48 billion.<\/p>\n\n\n\n
Saltzman, now retiring, said that he remains confident about Dis-Chem’s future.<\/p>\n\n\n\n
“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.<\/p>\n\n\n\n
“The Company’s succession planning always considered my retirement, and I have confidence in both the leadership and strategic direction.”<\/p>\n","protected":false},"excerpt":{"rendered":"
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