South African billionaire Patrice Motsepe steps down as executive chairman of African Rainbow Minerals in Johannesburg

South African billionaire Patrice Motsepe has officially stepped down as the executive chairman of African Rainbow Minerals (ARM) on Monday, 16 February 2026, marking the end of an era in the mining giant’s leadership.

The move comes as part of a broader effort to comply with the JSE Simplification Project, which restricts executive directors from holding the chairman role.

Motsepe will, however, remain on ARM’s board in a non-executive capacity, allowing him to continue influencing strategic decisions without directly managing day-to-day operations.

From Founder to Non-Executive Leader

Motsepe founded ARM in 1997, taking it public on the Johannesburg Stock Exchange (JSE) in 2002.

The following year, ARM merged with Avmin and Harmony Gold, adopting the name African Rainbow Minerals.

Speaking about his new role, Motsepe emphasized his commitment to supporting the company’s global competitiveness.

“I have undertaken my new role as non-executive chairman to ensure compliance with the Listings Requirements,” he said, highlighting that regulatory adherence remains a top priority.

Leadership Transition and New Appointments

Alongside Motsepe’s transition, ARM announced the appointment of Jacques van der Bijl as Chief Operating Officer.

The company underlined that these leadership changes are designed to strengthen regulatory compliance at the board level while maintaining strategic continuity.

Motsepe also welcomed van der Bijl, stating, “ARM remains committed and focused on creating value for its shareholders and benefitting its stakeholders.”

Meanwhile, David Noko will continue in his role as Lead Independent Non-Executive Director, providing continuity at the top.

Speculation About Political Aspirations

Beyond his business achievements, Motsepe also serves as President of the Confederation of African Football (CAF).

Recently, speculation has circulated about whether he might enter politics, potentially leading the African National Congress and even vying for the presidency of South Africa.

Motsepe, however, has repeatedly dismissed these claims, insisting that he has no political ambitions.

His focus remains on business, governance, and the development of ARM as a global mining player.

ARM’s Global Outlook

Motsepe’s transition to a non-executive role does not signal a retreat from ARM’s global ambitions.

Under his guidance, ARM has expanded its footprint in mining, diversified into multiple metals, and maintained a reputation for strong governance and social responsibility initiatives across South Africa and beyond.

What’s Next?

• ARM will continue to navigate regulatory compliance with the JSE Simplification Project.

• Jacques van der Bijl will oversee operational strategy as COO, driving efficiency and innovation.

• Motsepe will focus on governance, strategy, and global competitiveness in his non-executive capacity.

• The company will maintain continuity in leadership with David Noko as Lead Independent Non-Executive Director.

Investors and industry observers will be watching closely to see how the leadership changes impact ARM’s performance and strategic direction in the coming months.

Summary

South African billionaire Patrice Motsepe has stepped down as executive chairman of African Rainbow Minerals, following the JSE Simplification Project which restricts executive directors from serving as chairman.

He remains on the board as a non-executive chairman to continue supporting ARM’s global competitiveness.

Jacques van der Bijl has been appointed Chief Operating Officer, while David Noko continues as Lead Independent Non-Executive Director.

Despite ongoing speculation about potential political ambitions, Motsepe has made it clear that his focus remains on business and governance.

These changes aim to strengthen compliance, operational leadership, and strategic continuity for the company moving forward.