Dan and Mark Saltzman, sons of Dis-Chem co-founders Ivan and Lynette Saltzman, have sold shares in the retailer valued at a combined R642 million over the past two months.

The transactions follow closely on the heels of Ivan Saltzman’s announcement that he intends to step down as an executive director later in 2026.

In a shareholder update released on Wednesday, 18 March, Dis-Chem confirmed that both Mark and Dan had each disposed of roughly 8.8 million shares between 6 January and 27 February 2026. Altogether, the sales amounted to R642.27 million.

The brothers became major shareholders in mid-2025 after a restructuring of the Saltzman family’s stake in the business. At the time, each received a substantial allocation, with the pair collectively gaining about 217 million shares—equivalent to roughly a quarter of the company’s issued share capital.

Dis-Chem was established in 1978 by Ivan and Lynette Saltzman, who have remained closely involved in the company’s operations for decades.

Ivan Saltzman has been widely credited with steering the business from a small, family-run pharmacy into one of South Africa’s leading pharmacy and healthcare retail groups. The company previously highlighted his leadership, industry expertise, and long-standing commitment as key drivers behind its sustained growth and innovation.

During his time at the helm, Dis-Chem expanded its store footprint significantly, introduced new product offerings, broadened its regional presence, and successfully listed on the JSE in 2016.

Chairman Larry Nestadt has also acknowledged Ivan’s foundational role, noting that his leadership and values have been central to shaping the company’s identity and culture.

Despite stepping back from his executive duties, Ivan Saltzman will remain involved in the business. He is expected to continue serving on the board as non-executive deputy chair.

Commenting on the transition, he said the company’s strengthened leadership team makes it an appropriate moment for him to shift into a more strategic role.

Reflecting on his journey, Saltzman said he was grateful to have built a business that began as a single pharmacy in Mondeor and has grown into a network of 333 stores dedicated to providing accessible and affordable healthcare to millions across South Africa.

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