The South African billionaire Patrice Motsepe has officially retired from his position as executive chairman of African Rainbow Minerals (ARM), the mining company he founded in 1997. This decision, effective from February 16, 2026, comes after the adoption of new listing rules by the Johannesburg Stock Exchange (JSE), which now prohibit the chairman of a listed company from holding both executive and operational roles as part of a corporate governance reform project.
Motsepe, who led ARM for over two decades and transformed it into a leading diversified mining group in Africa, is stepping down from his executive role and employee status, but will remain on the board as a non-executive chairman. This transition aims to ensure ARM’s compliance with the updated stock exchange rules and to strengthen the separation between board oversight and operational management.
In a statement, he expressed his excitement to continue contributing to the group’s global competitiveness in his new role, while ensuring the company fully complies with governance requirements. At the same time, ARM has made adjustments to its management, including the appointment of Jacob van der Bijl as chief operating officer.
This change marks the end of an era for the iconic founder of one of the continent’s major mining companies, while opening a new chapter focused on stricter governance and a clear separation of executive and non-executive responsibilities.
