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Ivan Saltzman, who founded Dis-Chem with his wife, Lynette, in 1978, has stepped down from the board after 48 years at the company, marking the end of the family’s involvement in its management.On Friday, Dis-Chem announced Saltzman had resigned from his position as nonexecutive director, having stepped down as executive director last month.The news came a week after Saul Saltzman, son of Ivan and Lynette, announced his resignation from nonexecutive directorship.In a statement, Dis-Chem said Ivan’s departure was the final step in a phased succession process that began with the appointment of CEO Rui Morais in July 2023.Ivan had been at Dis-Chem’s helm since he and Lynette founded the group with just one pharmacy in Mondeor, Johannesburg. He helped the firm navigate a listing on the JSE in 2016 and has since helped grow its market value to R25.5bn.From 100 stores and annual revenue of R15.5bn at the time of listing, the retailer now operates about 330 stores, including 285 pharmacies and 45 baby outlets, with annual revenue exceeding R40bn.“Dis-Chem has been central to my life for 48 years, and I conclude this chapter with confidence in Dis-Chem’s future,” Ivan said.“The company’s succession planning always considered my retirement and I have confidence in the leadership and strategic direction. I will always look back with pride in how the business grew and evolved into a meaningful healthcare provider to millions of South Africans.”Business Day
