Saul Saltzman will step down as executive director on 27 February 2026.
Saul Saltzman has resigned as Dis-Chem’s Executive Director after being at the company for 19 years. Saul is the son of Dis-Chem founders Ivan and Lynette Saltzman.
Ivan and Lynette founded the company in 1978. Saul was the only child of the founders who worked for the company.
Saul’s resignation, handed in on Wednesday, includes stepping down as a member of the Social and Ethics Committee. The changes will take effect from 27 February 2026.
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Dis-Chem is generational wealth
The pharmacy was founded with a focus on generational wealth. Ivan and Lynette gifted their other sons, Dan and Mark, 217 shares worth R6.8 billion in June.
Before being gifted the shares, neither of the two sons held an executive position or a board seat. Saul is the only son to work at the company and was appointed Executive Director in 2022.
“Following his resignation, Mr Saltzman [Saul] will remain on the Board of Directors in the capacity as a non-independent, non-executive director continuing to contribute actively to the company’s strategic direction and governance,” said Dis-Chem.
Dis-Chem’s structure
The pharmacy was listed on the Johannesburg Stock Exchange (JSE) in 2016. In 2021, the Saltzmans reduced their shareholding in the group from above 50% to 31% through several transactions.
Ivan stepped down as CEO in 2023 after 45 years, succeeded by Rui Morais, who had previously served as the company’s CFO.
“We are grateful to Saul for his years of dedication and commitment. The board and managing executives appreciate the role he has played in the company’s standing and stature as the leading pharmacy retail destination and its evolution to a provider of integrated primary healthcare,” said Morais.
End of an era
Saul said it has been a great privilege to have worked in Dis-Chem alongside dedicated and talented people.
“We have shared challenges and achievements, and I am deeply grateful for the support and teamwork that is central to Dis-Chem’s culture and philosophy, which has made my tenure here so meaningful. I remain fully committed to Dis-Chem and look forward to ongoing involvement.”
At midday on Thursday, the company’s market capitalisation stood at R28 billion.
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