Dis-Chem founder Ivan Saltzman is stepping down as CEO – but his decision to remain in an executive role has raised some questions about whether he is really relinquishing power.
Saltzman, who founded the company with his wife Lynette in 1978, will exit the top position at the end of June. Chief financial officer Rui Morais will take over as CEO.
But Saltzman will stay an executive director and "an active member of the executive management team", focusing on the expansion of stores.