End of an era for 48-year-old South African retail giant
Dis-Chem co-founder Ivan Saltzman retired on 30 June 2026, ending his operational involvement in the company, which he founded 48 years ago.
This decision followed his stepping down as CEO of the group at the end of June 2023, with then-CFO Rui Morais succeeding him.
He will not be lost to the company. He was appointed as a non-independent non-executive director on the Dis-Chem board on 1 July 2026.
This is good news for the company, as no one has more institutional knowledge of its operations than Saltzman.
Saltzman, born in 1950 and raised in Port Elizabeth, co-founded Dis-Chem with his wife, Lynette Saltzman, in 1978.
At the time, he worked as a locum at a small business in Mondeor, south of Johannesburg, and was frustrated by the way things were done.
He offered to buy the store from the owner, and in 1978, Ivan and Lynette established a small pharmacy with a capital investment of R10,000.
They expanded their product range beyond pharmaceuticals, which proved to be a successful strategy.
The store started making a profit almost immediately, and by 1984, they opened their second store in Randridge Mall.
They expanded aggressively in the nineties, relying on the tried-and-tested formula of discounted medicine and non-pharmaceutical offerings.
By 2016, the company opened its 100th store, and the business was generating a revenue of R15.5 billion.
On 18 November 2016, Dis-Chem was listed on the Johannesburg Stock Exchange (JSE), with 101 stores in South Africa and two partner stores in Namibia.
The company continued its new-store rollouts and expanded into adjacent sectors, including the acquisition of Baby City and the launch of e-commerce services.
Today, Dis-Chem generates R42.8 billion in annual revenue, R1.04 billion in income and R1.8 billion in cash flow.
Ivan Saltzman hailed as a giant in the South African retail pharmacy sector
In the company’s latest annual report, Dis-Chem chief executive Rui Morais said that 2026 marked the end of an era for Dis-Chem.
“Ivan’s vision, tenacity, and commitment to making healthcare accessible to South Africans are the foundations of everything we are building,” he said.
“He will continue to serve the Group as a non-executive director, and I look forward to benefiting from his counsel.”
Dis-Chem chairman Laurence Nestadt said that Saltzman’s contribution to the organisation and to the South African retail pharmacy sector is without parallel.
Nestadt said that Dis-Chem, under Saltzman’s leadership, evolved from a family-owned business into a diversified, JSE-listed healthcare group with a national footprint.
“His passion for healthcare, innovation, and operational excellence shaped the Group’s culture and identity, laying the foundation for the business we are today,” said Nestadt.
Alec Abraham, an analyst at Otto1890, said that Saltzman was a visionary and committed to filling a market gap for consumers seeking value and range.
He warned that Dis-Chem will have to carefully navigate the new era, as it comes with dangers seen in other companies that have lost their founders.
“Adjusting strategy to the evolving landscape is particularly important, and can destroy founder-led, even pioneering businesses,” he said.
Dis-Chem photos
Inside Dis-Chem’s Melrose Arch Health Hub
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