New Multichoice Group names executive team

Naspers has announced the executive leadership team for its newly formed Multichoice Group (formerly Naspers’ Video Entertainment business).

Calvo Mawela has been appointed group CEO and Imtiaz Patel has been appointed executive chairman. Further appointments include Tim Jacobs as CFO and Brand de Villiers as Group COO.

The appointments will be effective 1 November 2018.

Naspers announced in September that intended to list its video entertainment business separately on the Johannesburg Stock Exchange (JSE) and simultaneously unbundle the shares to its shareholders.

The Multichoice Group is expected to be listed on the JSE in the first half of 2019 and will include Multichoice South Africa, Multichoice Africa, Showmax Africa, and Irdeto.

In the last financial year, Nasper’s video entertainment unit added 1.5 million subscribers, and generated revenue of R47.1 billion and trading profit of R6.1 billion.

This means that it is one of the fastest growing PayTV operators globally, Naspers said.

Read: Multichoice is working on a DStv streaming service – which could launch in 2019

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New Multichoice Group names executive team