Son of Africa’s retail giant steps down as $1.4bn dynasty enters new chapter

One of South Africa’s most iconic retail dynasties is entering a new phase as Saul Saltzman, Executive Director of Dis-Chem Pharmacies, steps down after nearly two decades of leadership.

• Dis-Chem Executive Director Saul Saltzman will step down in February 2026 after nearly two decades in leadership.
• The move marks a broader family succession, with ownership redistributed among the Saltzman siblings.
• Founded in 1978 with just $530, Dis-Chem has grown into a $1.4 billion retail empire with 330 stores.
• The transition marks a new era of governance, as the next generation assumes a more prominent role in the business.

Saul, the son of founders Ivan and Lynette Saltzman, will resign from his executive role effective February 27, 2026, but will remain on the board as a non-independent non-executive director.

The company hailed Saul’s tenure, with the board expressing “deep appreciation for his years of dedicated leadership and valuable service.”

His transition follows a broader reshaping of the pharmaceutical and retail group, which the Saltzman family has long dominated.

“This is not a farewell but a continuation of the Dis-Chem journey under evolving leadership,” a board statement noted, framing Saul’s move as part of a generational realignment rather than a departure.

A family legacy in transition

The Saltzman family’s grip on Dis-Chem has gradually eased over recent years. In 2023, co-founder Ivan Saltzman stepped down as CEO, passing the baton to former CFO Rui Morais, though he remains an executive director. Lynette exited the board in 2022 to focus on Dis-Chem’s beauty division.

In 2025, Saul’s brothers, Dan and Mark, inherited shares worth roughly $370 million each, a portion of the family’s stake previously held under their investment vehicle, Ivlyn. That restructuring reduced Ivlyn’s ownership from nearly 30% to just over 4%, effectively spreading the family’s holdings across the next generation.

Analysts interpret these changes, alongside significant share sales by the family and executives in 2024, as part of a broader generational succession.

Saul himself sold shares worth approximately $6.5 million, while fellow executive Stan Goetsch offloaded shares worth over $16 million.

From one pharmacy to national powerhouse

The story of Dis-Chem dates back to 1978, when Ivan and Lynette opened a small pharmacy in Johannesburg with a modest investment of $530. That single outlet grew into one of Africa’s most recognisable health and beauty retail chains.

By 2016, the company had listed on the Johannesburg Stock Exchange, achieving $830 million in revenue and marking, as Ivan described, “an important next phase” in its evolution.

Today, Dis-Chem operates 330 stores, including 285 pharmacies and 45 baby outlets, with a market capitalisation nearing $1.4 billion.

The Saltzman family’s gradual transition signals both the end of an era and the beginning of a new one, an emblematic shift for one of Africa’s most successful homegrown retail empires.