Dis-Chem founder Ivan Saltzman steps down as Chairman
Saltzman described the move as the “right time” given the strength of the current leadership, and said he would focus on supporting Dis-Chem’s longer-term direction as Deputy Chairman.
SOUTH AFRICA – Ivan Saltzman, the founder of Dis-Chem, has completed his final executive handover by retiring as an executive director and chairman on 30 June 2026.
This move comes after 48 years of leading the company from a single, mother-financed neighbourhood pharmacy in Mondeor into a R28 billion (USD 1.68 billion), JSE-listed healthcare retail empire now valued at around USD 1.7 billion.
The transition marks the closing chapter of a carefully staged succession that began in 2023, when Saltzman stepped down as CEO and handed day-to-day leadership to Rui Morais, a longtime executive who rose internally from audit trainee to CFO and then to CEO.
Rui has since overseen rapid expansion, including the rollout of the integrated Health Hub concept combining pharmacies with clinics, diagnostics, telemedicine and health insurance.
Saltzman will remain on the board as non-executive deputy chairman, providing strategic guidance and continuity while the Saltzman family’s shareholding structure is realigned and other family members, including his son Saul Saltzman, also move from executive to non-executive roles.
The retirement comes as Dis-Chem recently reported its latest financials for the year ended 28 February 2026, showing group revenue growth of 9.3% to R42.8 billion (USD 2.57 billion) despite a challenging operating environment marked by persistent consumer affordability pressures and higher input costs.
In its half-year results for the period ended 31 August 2025, the group posted a 9% rise in earnings amid a 10.1% increase in group revenue for the six months to 16 February 2026, driven by new store openings, market share gains in core retail pharmacy, and continued investment in its healthcare ecosystem strategy.
Management has acknowledged that shareholders have seen a year of “disappointing reported results” partly due to upfront investments in Dis-Chem Life (its health insurance and life products arm), marketing for its new loyalty programme, and system upgrades, with CEO Rui Morais signalling that these investments are expected to start contributing more meaningfully to profits in the current financial year.
Dis-Chem continues to position itself as South Africa’s “health authority”, expanding its physical footprint to hundreds of retail stores and baby outlets across South Africa, Namibia, and Botswana, growing its wholesale arm, which supplies roughly 85% of independent pharmacies, and deepening its tech-driven loyalty and health-outcomes platform.
Chairman Larry Nestadt and CEO Rui Morais have emphasized that, despite share price weakness since the May results announcement and a tough macro backdrop, the group remains well placed to benefit from rising demand for accessible healthcare and wellness solutions in the region.
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