Billionaire businessman Patrice Motsepe has stepped down as executive chairman of African Rainbow Minerals ARM following a change to the JSE’s Listings Requirements.
Motsepe’s transition ends more than two decades in the executive chairman role at ARM. He will remain on the board as non-executive chairman.
ARM informed shareholders on Monday, 16 February 2026, that the change was required to comply with new JSE rules introduced under the exchange’s Simplification Project. The initiative aims to reduce administrative complexity and update the Listings Requirements.
Under the amended rules, the chairperson of a listed company’s board may no longer serve as an executive director. The update aligns with governance principles set out in the King Code, which recommends that the chairperson of a company should be independent.
Transition to Non-Executive Chair
To comply with the new requirement, Motsepe retired as executive chairman and as an employee of ARM with effect from 16 February 2026. He will, however, continue to serve as a director and assume the role of non-executive chairman.
“I look forward to continue contributing to the global competitiveness of ARM in my new capacity as non-executive chairman,” Motsepe said. He added that the transition ensures compliance with the Listings Requirements.
New Chief Operating Officer Appointed
ARM also announced the appointment of Jacques van der Bijl as Chief Operating Officer. Van der Bijl moves into the role from his previous position as head of Executive Growth.
“I would also like to welcome Jacques to his new role as Chief Operating Officer of ARM,” Motsepe said. “Jacques is a world-class mining engineer and has been working for ARM for many years. ARM remains committed and focused on creating value for its shareholders and benefitting its stakeholders.”
Motsepe’s involvement in the mining industry dates back to 1994 when he founded Future Mining, a contract mining company that expanded rapidly during the post-apartheid restructuring of the sector. In 1997, he established ARMgold, which later merged with Avmin and Harmony Gold in 2003.
Following the merger, Avmin was renamed African Rainbow Minerals, with Motsepe serving as executive chairman until the latest governance-driven transition.
