Management shake-up as MultiChoice prepares to list

Naspers has announced a major management shake-up at MultiChoice, with the creation of a new MultiChoice Group business (formerly Naspers Video Entertainment), which will be headed by CEO Calvo Mawela.

Mawela has served until now as CEO of MultiChoice South Africa.

At the same time, former Video Entertainment CEO Imtiaz Patel has been named as executive chairman of MultiChoice Group.

Further appointments include Tim Jacobs as chief financial officer and Brand de Villiers as group chief operating officer.

The appointments are effective 1 November 2018. The changes come as Naspers prepares to unbundle MultiChoice to shareholders and list the business on the JSE. The listing is expected to take place in the first half of 2019 and will include MultiChoice South Africa, MultiChoice Africa, Showmax Africa and Irdeto.

In a statement on the appointments, Naspers CEO Bob van Dijk said: “This announcement marks a significant step for the MultiChoice Group as they journey towards a standalone business. I am confident that through the leadership of Imtiaz and Calvo, MultiChoice Group will continue on its growth trajectory and unlock even more value for its shareholders.”

In the last financial year, Naspers Video Entertainment generated revenue of R 47.1-billion and trading profit of R6.1-billion. – © 2018 NewsCentral Media