MultiChoice Group Announces Newly Appointed Executive Team
Following their recent announcement to unbundle Africa’s largest pay-TV operator, Naspers has now announced that the entity that was previously known as Naspers’ Video Entertainment business has been renamed MultiChoice Group and the executive leadership team for the new group has been appointed.
The company declared in a statement that Calvo Mawela would head the group as Chief Executive Officer and the Executive Chairman that has been appointed is Imtiaz Patel.
Brand de Villiers is the Chief Operating Officer, and Tim Jacobs has been appointed as Chief Financial Officer.
All these new appointments will be effective as from 1 November 2018.
Naspers also announced that although it intended to retain its primary listing still, it would list MultiChoice Group separately on the Johannesburg Stock Exchange (JSE) in the first half of 2019 and would, in addition, include MultiChoice Africa, MultiChoice South Africa, Irdeto and Showmax Africa.
Naspers believes that the newly formed executive leadership team will take the company to greater heights and make it the leading video entertainment business on the African continent. According to Naspers, MultiChoice Group has no competition when it comes to its diverse selection of leading international and local content, its world-class sports offering, and its impressive track record of operating right at the forefront of technology.
Bob van Dijk, Naspers’ CEO said that these new appointments mark a significant step for the Multichoice Group in their journey towards becoming a stand-alone business.
The CEO expressed that he is confident that through the leadership of Calvo Mawela and Imtiaz Patel, the MultiChoice Group will continue on its path and grow to bring even more value to its shareholders.
In the previous financial year, Naspers’ Video Entertainment gained 1.5 new subscribers and made a revenue of approximately R47.1 billion with a trading profit of around R6.1 billion. These numbers are enough to prove to the world that the MultiChoice Group is one of the fastest growing PayTV companies globally.