Billionaire Patrice Motsepe’s resignation explained

Billionaire businessman Patrice Motsepe’s resignation as executive chairman and an employee of his company, African Rainbow Minerals (ARM), has led to some confusion.

In ARM’s latest interim results, the company clarified why and how this exec switch-up took place, explaining that it was done to ensure compliance with the JSE’s amended Listings Requirements.

Motsepe’s exec shuffle came as rumours of his potential presidential campaign are rising, with many eyeing the billionaire to take over as the next ANC President.

On 16 February 2026, ARM announced that Motsepe would be stepping down from his role as executive chairman and as an employee of the company. 

Motsepe founded ARM around three decades ago and had been its executive chairman for over two decades.

The miner explained that, going forward, Motsepe would hold the position of non-executive chairman.

In its interim results released on 6 March, the company explained this move further, saying it was done to ensure compliance with paragraph 5.7(d) of the JSE Listings Requirements.

This paragraph states that an entity listed on the JSE’s main board, like ARM, must have a chief executive officer and a chair, and these positions must not be held by the same person. 

“The chair must not be an executive director, and must either be an independent non-executive director, or the applicant issuer must appoint a lead independent director in accordance with the King Code,” the Listings Requirements state.

Prior to this amendment in the requirements, Motsepe served as AMR’s executive chairman. Now, to ensure compliance, he serves as the miner’s non-executive chairman.

To make this switch, he had to step down from the executive chairman role and resign as an employee of the company, as this allows him to be classified as independent.

The company and Motsepe have made it clear that the businessman will continue to contribute to ARM, just in a new role.

“I look forward to continue contributing to the global competitiveness of ARM in my new capacity as non-executive chairman,” Motsepe said when the switch-up was first announced. 

Motsepe’s new role(s)

Motsepe’s new role at ARM came amid speculation that the billionaire is eyeing a different role as well – ANC President.

It should be noted that Motsepe has repeatedly denied claims that he is considering running for the ANC presidency.

However, his denial has done little to quell rumours of his campaign, especially after BusinessDay reported that a website was launched that appears to support Motsepe as the next ANC President.

Ownership of the PM27 Campaign website has yet to be claimed, but it states that Motsepe is the most credible, unifying, and visionary leader to guide the ANC and South Africa.

“Patrice Motsepe’s proven track record and unwavering commitment to ethical leadership make him the only credible choice,” the website states.

It added that Motsepe becoming president will restore trust, inspire hope, and lead South Africa toward a brighter future.

Amid this speculation, several commentators have also voiced their support for a potential Motsepe presidency.

Political analyst Dr Frans Cronje said he believes Motsepe’s exec shake-up at ARM was done, not just to comply with requirements, but as a strategic move to open the way for the businessman to run for ANC President.

Cronje argued that Motsepe’s business acumen gives him a level of credibility that exceeds that of other potential candidates, saying he could succeed by being more decisive than his brother-in-law, Cyril Ramaphosa.

Modern Corporate Solutions mining analyst Peter Major has also thrown his support behind a Motsepe presidency, saying the businessman could have what it takes to revive South Africa’s struggling mining industry.

Major told BizNews that Motsepe has the ability to significantly change the fortunes of South Africa’s mining sector for the better if he gets into a position of power. 

Similarly, Efficient Group chief economist Dawie Roodt recently said electing Motsepe would be the “best move the ANC could make”.

“That is probably the single best move that the ANC can make, and that’s to get him to become the president of the ANC and of South Africa,” Roodt said.

“If you look at the other potential candidates – guys like Paul Mashatile, Fikile Mbalula, even Gwede Mantashe – those guys I just do not have any confidence in. But Patrice, that’s a completely different story.”