Motsepe Steps Down as ARM Executive Chairman to Comply with New JSE Rules
Billionaire businessman Patrice Motsepe has stepped down as executive chairman of African Rainbow Minerals (ARM), the diversified mining group he founded, in response to new governance rules implemented by the Johannesburg Stock Exchange (JSE).
The change, which took effect on Monday, 16 February 2026, sees Motsepe transition from his executive role to become non-executive chairman of the company.
He also retired as an employee of ARM, the company confirmed in a stock exchange news service announcement.
The move follows amendments to the JSE’s Listings Requirements under its “Simplification Project,” which became operational on the same day.
According to paragraph 5.7(d) of the new rules, the chair of a listed company may no longer serve as an executive director. The reform is designed to strengthen corporate governance by enforcing a clearer separation between board oversight and day-to-day management.
“I have undertaken my new role as non-executive chairman to ensure compliance with the Listings Requirements,”
Motsepe said in a statement. “I look forward to continue contributing to the global competitiveness of ARM in my new capacity”.
Motsepe, who founded ARM in 2003 and is South Africa’s only Black dollar billionaire with an estimated net worth of $3.1 billion, will maintain his influence over the company’s strategic direction from the board .
He also serves as president of the Confederation of African Football (CAF).
In a concurrent leadership restructure, ARM announced the appointment of Jacob van der Bijl as its new Chief Operating Officer, also effective 16 February . Motsepe described Van der Bijl, a long-serving company veteran, as a “world-class mining engineer” . David Noko will continue in his role as the company’s lead independent non-executive director.
ARM, which has a market capitalisation of approximately $2.7 billion, holds interests in iron ore, platinum group metals, and coal . The company is expected to publish its full-year results on 5 March.