Nearly half a century after Ivan and Lynette Saltzman opened their first discount pharmacy in Mondeor with just R10,000, the founding family’s hands-on role at Dis-Chem is coming to an end.
The latest milestone came on Monday when the JSE-listed pharmacy retailer announced that Saul Saltzman had resigned as a non-executive director with effect from July 17, ending a 25-year career at the company founded by his parents.
The resignation follows Saul Saltzman’s transition from executive director to non-executive director in February and comes just weeks after Ivan Saltzman retired from his executive role after 48 years at the helm, although he remains on the board as a non-executive director.
Dis-Chem said in a SENS announcement that the board thanked Saul Saltzman for his “invaluable contribution, commitment and dedicated service to the Company over many years” and wished him well in his future endeavours.
48 years on
Founded in 1978, Dis-Chem has grown from a single pharmacy into South Africa’s second-largest pharmacy retailer, operating more than 300 stores across southern Africa. The group reported revenue of R42.8 billion for the year to February 2026, up 9.3% as it continued to gain market share across its key retail categories.
In his latest annual report, chief executive Rui Morais described the 2026 financial year as “the end of an era for Dis-Chem” following Ivan Saltzman’s retirement from executive management.
“Ivan’s vision, tenacity, and commitment to making healthcare accessible to South Africans are the foundations of everything we are building,” Morais said, adding that Ivan would continue serving on the board as a non-executive director.
The leadership transition has been several years in the making. Rui Morais, who joined Dis-Chem in 2010, was appointed chief executive in July 2023 after being named CEO-designate two years earlier, marking the first time the retailer had been led by someone outside the founding family.
Shifting sands
Saul Saltzman had spent his entire career at Dis-Chem. According to the company’s latest integrated report, he accumulated 25 years’ experience within the business, holding several strategic roles including leading the group’s import division and driving its private-label strategy before joining the board in 2016.
His departure means none of Ivan and Lynette Saltzman’s children now serve on the company’s board. The board changes come against the backdrop of a gradual reshaping of the family’s ownership.
Last year, Business Report reported on the Saltzman family’s disposal of more than R1.5 billion worth of Dis-Chem shares, while more recent transactions involving brothers Mark and Dan Saltzman have continued to fuel speculation about the family’s long-term role in the retailer.
When Ivan Saltzman first spoke publicly about listing Dis-Chem in 2009, he said access to public capital would help fund the company’s expansion while preserving the business for future generations. The retailer ultimately listed on the JSE in 2016, ushering in a new chapter in its growth
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Source: https://www.msn.com/en-za/news/other/from-r10-000-to-a-r43bn-retailer-dis-chem-s-50-year-family-legacy-comes-to-an-end/ar-AA28m7uF?ocid=msedgntp&pc=U531&cvid=6a608f2a540448cd84d8e77bcbf3b5e8&ei=39
