Patrice Motsepe’s Business Move Explained as Mamelodi Sundowns Owner Retires From ARM Role
- Patrice Motsepe explained why he stepped down as African Rainbow Minerals’ executive chairman
- The Mamelodi Sundowns owner retired from his executive role to comply with amended JSE requirements
- Motsepe remained ARM’s non-executive chairman while maintaining his involvement in African football
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South African billionaire Patrice Motsepe has explained why he stepped down as executive chairman of African Rainbow Minerals (ARM), while remaining involved with the mining giant as its non-executive chairman.
Motsepe, who is also known for his involvement in South African football through Mamelodi Sundowns, retired as ARM’s executive chairman and employee on 15 February 2026.
In the company’s 2026 annual report, released on 28 October, Motsepe explained that the decision was made to comply with amended Johannesburg Stock Exchange (JSE) Listings Requirements.
He remains a director of ARM and serves as the non-executive chairman of its board, a position he assumed on 16 February 2026.
Why Patrice Motsepe stepped down
The revised JSE rules state that a company’s chairperson cannot be an executive director. The chair must instead be an independent non-executive director, or the company must appoint a lead independent director in accordance with the King Code.
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The updated requirements took effect on 16 February 2026, prompting Motsepe’s transition from executive chairman to non-executive chairman a day earlier.
“To ensure compliance with the amended JSE Listings Requirements, I retired as executive chairman and employee of ARM on 15 February 2026,” Motsepe said in the annual report.
“I remain a director of the company, serving as non-executive chairman of the board from 16 February 2026.”
Patrice Motsepe’s football connections
Beyond his mining interests, Motsepe is a prominent figure in African football.
He owns Mamelodi Sundowns, one of South Africa’s most successful football clubs, which has won multiple domestic titles and continental honours. Motsepe also became president of the Confederation of African Football (CAF) in March 2021, placing him at the helm of the continent’s football governing body.
His involvement in football has made him a familiar figure to supporters of the Premier Soccer League and African club competitions.
However, his retirement from ARM’s executive chairman role is due to the JSE’s revised governance requirements, according to his statement in the company’s annual report.
Patrice Motsepe earns R28.5 million payday
Briefly News previously reported that Mamelodi Sundowns owner and CAF president Patrice Motsepe earned R28.5 million from African Rainbow Minerals (ARM) for his executive role during the 2026 financial year
The billionaire stepped down as ARM's executive chairman in February but remains involved with the mining group as its non-executive chairman.
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Source: Briefly News
