Vino Govender, CEO of TopTV, announced that he will be stepping down with immediate effect. Eddie Mbalo, Chairman of ODM, will fill the role of interim CEO until a replacement for Govender is appointed.
“Following discussions that have taken place over a six month period with the board and Govender, a mutual separation has been reached. Both parties believe [the agreement] will benefit the company in its future developments,” ODM said in a press statement.
Govender remains a shareholder of the company and will continue to guide and assist Mr. Mbalo and the Board, the company said.
“The decision follows a series of meetings between the Board and management of ODM to discuss the future and possible restructure of TopTV to ensure that the company remains competitive and relevant within the pay-TV environment in South Africa,” ODM said.
Mbalo, addressing the TopTV staff, thanked Vino Govender on behalf of the Board of Directors for his hard work and commitment.
“We would like to take this opportunity to thank him for the enormous contribution he has made to the start-up operation that is TopTV today. The launch of a second pay-TV operator into the local market brought with it a shake-up in the industry that resulted in more choice and pricing options for consumers,” said Mbalo.
Govender states that he has decided to step down as he has fulfilled his role in planning and executing the setup of the business over the past six years.
“It is time for fresh blood to take the business to new heights and I am confident the board will implement and achieve its strategic plans,” said Govender.
Mbalo joined e.tv in 1998 as the first head of Current Affairs. In 2001 he was appointed CEO of National Film and Video Foundation (NFVF).