Primedia appoints CEO, eyes JSE listing
Primedia Group has announced the appointment of Roger Jardine as Group CEO, as the company eyes re-entry into the publicly listed environment.
Jardine, who was previously CEO at listed construction firm Aveng‚ but also CEO at Kagiso Media, will take over from Kuben Pillay on 3 February 2014, with the latter moving to the position of executive chairman.
Primedia’s assets include Ster Kinekor cinemas, iafrica.com, 702 Talk Radio, and Eye Witness News.
The group listed on the JSE in April 1995 and traded on the exchange until October 2007 when its listing was terminated following a successful private equity transaction.
“This is an incredibly exciting announcement for us,” said Pillay. “Roger brings a wealth of experience with him, having run two listed entities including having been at the helm of a large and successful media company for almost a decade.”
“We are really fortunate to have Roger joining at this time, given that Primedia may re-enter the publicly listed environment in the future.”
Primedia said that in December 2013, it concluded a successful balance sheet reconfiguration which saw the group simplify its capital structure, widen its shareholder base with replacement capital and significantly strengthen its balance sheet to a level that is more appropriate with public markets.
Mineworkers’ Investment Company (MIC), Brait Fund IV, the FirstRand Group and the Old Mutual Group are now the major shareholders of the Group.
Pillay will be moving into the role of executive chairman of the group for the next 12 months, after which he will assume the position of non-executive chairman.
Pillay, who replaces outgoing chairman, Chris Seabrook, has served with Primedia for the past 15 years in several group executive roles, and has held the position of Group CEO since 2009.
Roger Jardine
Jardine said he was pleased to be back in the media sector, adding that he has invested “a significant amount of my own capital into the business”.
“I have always believed that, beyond profit and enterprise, business can play a constructive role in society. I think Primedia is that kind of company and I am looking forward to continuing to deliver value to our stakeholders.”
Jardine holds a BSc in Physics and a Master’s degree in Radiological Physics.
He currently serves as a non-executive director on the boards of FirstRand Limited and the Natal Sharks.
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