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A company spokesperson confirmed that Lynch passed away at 14:50 on Monday afternoon. He was 63.
Irish-born Lynch came to South Africa in 1971, aged 27, and joined then loss-making car dealership Imperial Motors. Over 35 years, he proceeded to turn Imperial into SA's biggest transport company.
Lynch became joint managing director of Imperial in 1987 and served as its executive chairperson from 1990 until 2001. He retired as chief executive on July 4, 2007.
He was named the 2006 Ernst & Young Entrepreneur World Entrepreneur of the Year.
"Bill was a formidable businessman who built Imperial into a substantial and highly successful business," a statement released by Imperial on Monday afternoon read. "He was decisive and clear-minded in his approach to business, whilst fair and compassionate, characterised his approach to the many people that crossed his path.
"His untimely passing leaves a great void and his memory and contribution to our group will be treasured by his colleagues at Imperial."
- Fin24
