Naspers: Volkwyn returns as pay-TV unit chief

Naspers had appointed a new chief executive to lead its pay-TV division after Eben Greyling stepped down, the media group said yesterday. Greyling had “decided to take a break and pursue new interests after more than 18 years with the group”, JSE-listed Naspers said in a statement. Jim Volkwyn, the previous head of the pay-TV division, replaced Greyling yesterday. The pay-TV segment had more than doubled its revenue and subscriber base over the past five years under Greyling, the company said. By November last year Naspers had 7.3 million digital television customers across 48 countries. The segment incorporates Irdeto, a multinational company offering signal encryption for pay-TV operators, the DStv, M-Net, Supersport, MWeb and MultiChoice brands and GoTV, a digital terrestrial television offering elsewhere in Africa. Naspers chief executive Koos Bekker also stepped down yesterday. Bob Van Dijk, the group’s former head of e-commerce, has succeeded Bekker. The shares gained 2.47 percent to close at R1 190 yesterday. – Asha Speckman and Bloomberg