Europe-based internet group Prosus, with a R2.9 trillion market cap, on Friday announced that the boards of Prosus and Naspers had unanimously approved the appointment of Fabricio Bloisi as CEO of Prosus and Naspers Group.
The appointment is effective as of July 1, 2024.
Bloisi assumes the role of Group CEO from his role as CEO, iFood. Fabricio acquired iFood in 2013 when it was a 20-person start-up. He has since grown it rapidly and profitably to become Brazil’s leading food delivery company.
“Bloisi is a proven entrepreneur and innovator with deep roots in operating, building and scaling world-class technology companies within growth markets. The Board would like to thank Ervin Tu for his strong leadership of the Group over the last eight months as Interim CEO, Prosus said.
Tu will continue to play a critical role in shaping the Group’s future in a new position, President and Chief Investment Officer.
Koos Bekker, Prosus and Naspers chair, said, “Backing exceptional entrepreneurs who improve people’s everyday lives through technology has brought us some success over the years. Fabricio is an entrepreneur with a proven track record. His appointment as CEO places innovation and entrepreneurship at the heart of the Group.
“Fabricio has established iFood as one of the most innovative food delivery companies in the world. Also, a famous brand in Latin America. He has a combination of vision, deep operational experience and strong discipline. It is this skillset which the Board believes make him the right person to now lead us.
“Ervin has done an outstanding job as our interim CEO. He navigated a challenging external environment, re-focussed our teams, and brought energy and vigour to bear. As our new President and CIO, he will play a fundamental role in shaping the Group’s future strategy, investments, and capital allocation.”
Bloisi said, “It is an honour to be given the opportunity to lead Prosus and Naspers during a very exciting period of innovation and change within the technology space. I am proud that we have grown iFood into one of the largest and most successful brands in Latin America. This was driven by a passionate team balancing innovation with disciplined investment, while acting fast and empowering our great people. That combination is in my DNA, and I will bring it to my new role as Prosus and Naspers CEO.
“I believe we are in an amazing moment, where technology disruption can change the life of billions of people for the better. A company like Prosus must play an important role in identifying new technologies, such as AI, that impact the world and specifically emerging markets. Our focus on innovation and discipline, combined with our outstanding people, knowledge, and culture, is a recipe for better experiences for our customers, opportunities for employees and better results for our shareholders long into the future.”
Ervin Tu, said, “Fabricio has an incredible operating track record, founders’ passion, is a champion of culture and has the vision to think big and bigger. We’re in the midst of a fascinating time of change in the technology industry. There are many opportunities ahead and I couldn’t be more excited to work alongside Fabricio on this journey.”
Bloisi will join the Naspers board as an executive director on July 1 and the Prosus board following the AGM in August 2024, subject to shareholder approval.
BUSINESS REPORT