Mining magnate Dr Patrice Motsepe has stopped being an employee of African Rainbow Minerals.
The company made the announcement in a Johannesburg Stock Exchange News Service announcement, stating that Motsepe would be retiring as the executive chairman of the platinum mining company.
The multibillionaire will, however, continue in his role as the director and non-executive chairman of the ARM.
The change comes after the JSE’s new rules became effective on Monday, February 16. Motsepe, who is also the Confederation of African Football president, is also viewed as a possible replacement for President Cyril Ramaphosa.
“Pursuant to the Simplification Project the JSE made amendments to the Listings Requirements that became operational today, 16 February 2026.
“Accordingly, in terms of paragraph 5.7(d) of the Listings Requirements, the chair of ARM must not be an executive director,” said ARM in the statement.
The company said in order to ensure compliance with the JSE regulations, Motsepe, “as the founder of ARM and after having performed the role of executive chairman of the company for many years, has retired from his position as executive chairman and as an employee of the company with effect from and including 16 February 2026”.
Will continue directorship role
“Dr Motsepe will continue to be a director of the company, and will serve as the non-executive chairman of the board with effect from and including 16 February 2026 in compliance with the Listings Requirements.”
The company also confirmed that there won’t be further changes to the board, with David Noko continuing in his role as the company’s lead independent non-executive director.
On the operational side, ARM announced one change, stating that mining engineer Jacob van der Bijl has been promoted to being the company’s chief operating officer with effect from February 16.
Said Motsepe in a statement: “I look forward to continuing to contribute to the global competitiveness of ARM in my new capacity as non-executive chairman. I have undertaken my new role as non-executive chairman to ensure compliance with the listing’s requirements.
“I would also like to welcome Jacques to his new role as Chief Operating Officer
of ARM. 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 benefiting its stakeholders,” said Motsepe.
Van der Bijl will work alongside ARM CEO Phillip Tobias, who joined the company as COO in November 2021.
