DURBAN – Naspers has announced the executive leadership team for the MultiChoice Group which was previously known as Naspers’ Video Entertainment business.
Calvo Mawela has been appointed group chief executive while Imtiaz Patel will take the position of executive chairperson of the MultiChoice Group.
Other appointments that have been made include Tim Jacobs being appointed as chief financial officer as well as the appointment of Brand de Villiers as group chief operating officer.
The appointments will be effective from November 1.
Naspers is planning to list its Video Entertainment business separately on the JSE while also unbundling the shares to its
shareholders.
The entertainment company is expected to be listed on the JSE in the first half of next year and will include brands like MultiChoice South Africa, MultiChoice Africa, Showmax Africa, and Irdeto.
Naspers chief executive Bob van Dijk said, "This announcement marks a huge step for the MultiChoice Group as they journey towards a stand-alone business."
He added that he is confident that through the leadership of Imtiaz and Calvo, MultiChoice Group will continue on its growth path and unlock even more value for the shareholders.
In the previous last financial year, Video Entertainment added 1.5 million subscribers as well as generated revenue of R47.1 billion and trading profit of R6.1bn.
Calvo Mawela, the newly appointed chief executive said, "I am incredibly excited to lead our team of highly capable executives through this new and exciting chapter for our company".