Mark and Dan Saltzman, the sons of Dis-Chem founders Lynette and Ivan Saltzman, have sold shares in the company for over R600 million.
The brothers each sold shares worth roughly R321 million from January to February of this year.
The brothers both received shares in the company worth billions in June 2025 following a major shift in the family’s holding structure.
The brothers received 217 million in shares in the company last year, which represented around a quarter of the JSE-listed company that was founded by their parents in 1978.
Prior to the shift, the family’s investment vehicle, Ivlyn, held a 29% stake in the company. Following the change, Ivlyn’s interest has decreased substantially to around 4%.
The brothers each received around a 12.5% beneficial interest in the company after having none previously.
While Mark and Dan did not hold executive or board roles when they received the shares, their other brother, Saul, did work at the group as an executive director at the time.
However, after 19 years as a director, Saul resigned from the role, effective 27 February 2026. He is still on the board as a non-independent non-executive director.
This coincides with a major change in Ivan’s role, who left his position as Dis-Chem Group CEO in 2023. He was succeeded by Rui Morais, formerly the company’s CFO.
While Ivan still worked as an executive director after leaving the CEO role, the company recently announced that he would also step down from that position.
Ivan will step down as an executive director of the company in June 2026 but will continue to work as a non-executive director and deputy chairman of the group.
Dis-Chem said that Ivan had played a pivotal role in growing and transforming the company from its early beginnings as a family-owned business into a JSE-listed retail giant.Lynette had already stepped down from her role as an executive director in 2022 to focus on an operational role within the group’s beauty category. –businesstech.co.za
