Dis-Chem, one of Africa’s largest pharmaceutical retail groups, has announced the retirement of founder Ivan Saltzman from its board, bringing an end to his 48-year association with the company he built from a single pharmacy into a multibillion-rand healthcare business.

Saltzman, who recently became South Africa’s ninth dollar billionaire, resigned as a non-executive director effective July 23, 2026, after previously stepping down as chief executive officer in June.

His departure marks the final stage of a leadership transition that began when Rui Morais, then Dis-Chem’s chief financial officer, was appointed CEO in July 2023.

Founder completes leadership transition

Dis-Chem said Saltzman’s decision followed careful consideration and would support board succession while allowing the company to continue building on its established foundation.

“Following careful consideration, Ivan believes that the timing is appropriate to facilitate board succession, while allowing the company to continue building on its strong foundations,” the company said.

The board described Saltzman’s retirement as the conclusion of a phased succession plan designed to combine entrepreneurial leadership with professional management.

Dis-Chem thanked its founder for his “exceptional leadership, unwavering commitment and invaluable contribution” over nearly five decades.

Saltzman said he was leaving the company with confidence in its future and its leadership team. “Dis-Chem has been central to my life for 48 years, and I conclude this chapter with confidence in Dis-Chem’s future,” he said.

“The company’s succession planning always considered my retirement, and I have confidence in both the leadership and strategic direction.”

From one pharmacy to a healthcare group

Saltzman and his wife, Lynette, founded Dis-Chem in 1978 after opening their first pharmacy in Mondeor, Johannesburg. Over the decades, the pair expanded the business into one of South Africa’s most recognised healthcare and wellness brands.

The company introduced its private-label product range in 1997 and launched the Dis-Chem Foundation in 2006, strengthening its presence beyond traditional pharmacy retail.

When Dis-Chem listed on the Johannesburg Stock Exchange in 2016, it operated 100 stores and reported annual revenue of R15.5 billion ($921.7 million).

By 2026, the retailer had grown to a total of 358 retail stores, consisting of 316 retail pharmacies and 42 retail baby stores. Its market capitalisation had increased to about R25.5 billion ($1.5 billion).

Saltzman, a trained pharmacist, spent more than four decades shaping Dis-Chem’s growth alongside Lynette, who stepped away from her executive director role in 2022 to focus on the company’s beauty category.

Family retains stake as company enters new era

Before his retirement, Saltzman and Lynette transferred shares in the company to two of their sons, ensuring the family retained ownership of more than one-quarter of Dis-Chem.

The move allows the family to remain invested in the retailer while a new management team takes greater responsibility for day-to-day operations.

The Bloomberg Billionaires Index recently valued the Saltzman family’s wealth at $1.3 billion, making them one of Africa’s billionaire families after decades of expansion at Dis-Chem.

Dis-Chem’s latest results show the company has continued to grow despite pressure on consumer spending. For the year ended Feb. 28, 2026, the retailer reported revenue of R42.8 billion ($2.64 billion), up 9.3% from R39.2 billion ($2.41 billion) a year earlier. The company also reported R20.74 billion ($1.23 billion) in total assets and R1.8 billion ($107.07 million) in cash flow.

After nearly five decades at the company, Saltzman leaves behind a business valued at about $1.5 billion, with operations across three countries and a leadership structure designed to carry Dis-Chem into its next chapter.