After nearly two decades of executive leadership, Saul Saltzman, son of Dis-Chem founders Ivan and Lynette Saltzman, has formally submitted his resignation as Executive Director of the company. The transition will take effect on 27 February 2026, as announced by the board.
While stepping down from his executive role, Saul will remain actively involved in the company’s governance as a non-independent non-executive director, continuing to contribute to Dis-Chem’s strategic direction. The board expressed its appreciation for Saul’s long-standing commitment and leadership, acknowledging his role in shaping the company’s growth and operational excellence.
Saul’s resignation is part of a broader generational transition and corporate restructuring within Dis-Chem, reflecting the gradual shift of control from the founding Saltzman family. This evolution began in June 2023, when Ivan Saltzman stepped down as CEO, handing over the reins to then-CFO Rui Morais, while retaining his position as an executive director.
The restructuring continued in June 2025, when brothers Dan and Mark Saltzman inherited approximately R6.8 billion in Dis-Chem shares. This transfer significantly altered the family’s investment vehicle, Ivlyn, reducing its stake from 29.31% to 4.06%, while Dan and Mark each gained a 12.62% beneficial interest in the company.
Despite these changes, the Saltzman family remains deeply embedded in Dis-Chem’s ownership and governance. Ivan continues as an executive director, while Lynette transitioned in 2022 from an executive role to focus on operational leadership within the group’s beauty category.
The restructuring was accompanied by notable share sales in 2024, with Saul Saltzman selling over R120 million worth of shares and fellow executive director Stan Goetsch offloading more than R300 million. Analysts interpreted these moves as part of a generational shift, positioning Dis-Chem for its next phase of growth under new leadership.
Dis-Chem’s journey began in 1978, when Ivan and Lynette Saltzman acquired a small pharmacy in Mondeor, Johannesburg, with a modest R10,000 investment. Ivan, frustrated by inefficiencies while working as a locum, saw potential in the business and took ownership, laying the foundation for what would become one of South Africa’s most iconic pharmacy retail brands.
By 1984, the Saltzmans opened their second store in Randridge Mall, defying skepticism about the mall’s viability. Lynette balanced her role in the business with raising their young children, who decades later would inherit substantial stakes in the company.
Dis-Chem’s model, focused on discounted medicines and a broad product offering, proved highly successful. The company expanded rapidly through the 1980s and 1990s, introduced private-label products in 1997, and launched the Dis-Chem Foundation in 2006 to support community initiatives.
By 2016, Dis-Chem operated 100 stores and generated R15.5 billion in revenue. That same year, it listed on the Johannesburg Stock Exchange (JSE), a milestone Ivan described as “an important next phase” in the company’s evolution.
As of 2025, Dis-Chem boasts 330 stores, including 285 pharmacies and 45 baby outlets, with a market capitalization of R27 billion. The company remains a dominant force in South Africa’s pharmaceutical and retail landscape, continuing to expand its footprint and diversify its offerings.
