Billionaire’s son resigns from Dis-Chem board

Saul Saltzman has resigned from his position as a non-executive director on Dis-Chem’s board less than six months after he transitioned to the role. 

Saltzman is the son of Dis-Chem co-founders Ivan and Lynette Saltzman. His resignation comes a year after Ivan gifted Saul’s brothers, Mark and Dan, R3.4 billion worth of shares each. 

The Saltzmans were recently elevated to the status of dollar billionaires by Bloomberg, with a net worth of $1.3 billion, putting them in an elite group of South Africans. 

After running the company for 45 years, the Saltzmans have begun focusing on succession and handing the company over to professional managers. 

Many families have struggled with this transition. While the Ruperts provide a clear example of how to retain control of companies over generations, many others have seen their businesses collapse. 

Most recently, the Ackermans have given up control of Pick n Pay to give the retailer greater freedom to implement a turnaround plan. 

The Saltzmans did not want to find themselves in such a situation where their ownership of the company was seen by the market as getting in the way of future success. 

In 2023, the patriarch, Ivan, announced he was stepping down as CEO. This handed over the reins to a non-Saltzman for the first time in the company’s history to Rui Morais. 

This has kicked off a succession process, with the Saltzmans gradually giving up their roles at the company and on its board. 

Ivan stepped into the chairman’s position until the end of June 2026, when he retired from the position and became a non-executive director. 

The company announced on 20 July that Ivan’s son, Saul, has resigned from Dis-Chem’s board and will be leaving the company. 

“Following Mr Saul Saltzman’s transition to the role of Non-Executive Director on the 27th of February 2026, he has informed the Board of his decision to resign as a Non-Executive Director, effective 17 July 2026,” Dis-Chem said in a statement. 

“The Board extends its sincere appreciation to Saul for his invaluable contribution, commitment and dedicated service to the Company over many years and wishes him every success in his future endeavours.”