Kagiso Media\u00a0has announced that its\u00a0chief executive\u00a0officer (CEO)\u00a0Murphy Morobe will be stepping down from the group.<\/p>\n
Kagiso has the\u00a0www.howzit.msn.com portal in its stable, along with several high profile radio titles including East Coast Radio,\u00a0Jacaranda FM 94.2, and Kaya FM.<\/p>\n
“Murphy Morobe will be stepping down as the chief executive\u00a0officer (CEO) of Kagiso Media Limited. Mr. Morobe will work\u00a0with the Board of directors (the Board) of the company to\u00a0find a suitable successor and will continue to act in the\u00a0capacity of CEO until no later than 30 June 2013 or the\u00a0appointment of the successor,” Kagiso said in a statement.<\/p>\n
“The Board thanks Mr. Morobe for his contribution over the six\u00a0years of service he has given to the company and his guidance\u00a0in creating a sound platform for the future growth of the company. The Board wishes him all the best for his future\u00a0endeavours,” it said.<\/p>\n
In September, Kagiso reported a 21.3% rise in\u00a0revenue to R956.9 million for the year ended June 2012.<\/p>\n
It noted a 11.45% fall in diluted headline earnings per share\u201a to 135.3 cents.<\/p>\n
Operating profit rose marginally to R258.6 million, from R252 million in 2011.<\/p>\n
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