Media and internet group Naspers has moved to reshuffle its board, citing the growth of its\u00a0subsidiary MIH Holdings which now\u00a0comprises the vast majority of its market capitalisation, leading to large overlaps developed between\u00a0the activities of the MIH and Naspers boards.<\/p>\n
MIH\u00a0was formerly known as MultiChoice Limited and changed its name to MIH Holdings Ltd. in 1996.<\/p>\n
As part of the reconfiguration of\u00a0the\u00a0Naspers board, Lourens Jonker, Neil van Heerden and Prof Hein\u00a0Willemse have resigned from the board effective 16 October 2013.<\/p>\n
“We thank them for their\u00a0service and valuable contribution to the Naspers board. In view of their print media expertise\u00a0built up over many years, they have been invited to join the Media24 Holdings board,” Naspers said in a media statement.<\/p>\n
Craig Enenstein, Don Eriksson, Roberto Oliveira de Lima, Yuanhe Ma and Cobus
\nStofberg have been appointed directors of Naspers with effect from 16 October 2013. Most of\u00a0them previously served on the board of MIH, Naspers said.<\/p>\n
Craig Enenstein is the CEO of Corridor Capital, LLC, a Los Angeles-based private equity fund and\u00a0has experience in developing and driving growth strategies, performing
\noperational improvements and facilitating highly complex strategic consortia investments.<\/p>\n
He is currently chair of Oakleaf Insurance Company Limited, Insurance\u00a0Outsourcing Managers Holdings Limited, Renasa Insurance Company and a former trustee and\u00a0current member of the audit and risk committees of Discovery Health Medical Scheme.<\/p>\n
Roberto Oliveira de Lima is presently a board member of Telefonica Brasil, Natura Cosm\u00e9ticos,\u00a0Rodobens Neg\u00f3cios Imobili\u00e1rios and Companhia Brasileira de Distribui\u00e7\u00e3o in Brazil and\u00a0Edenred in France.<\/p>\n
“Mr Oliveira de Lima has a wealth of experience in the telecommunications
\nsector where he was CEO of the leading mobile telecommunication company in South America,Vivo SA,” Naspers said.<\/p>\n
Yuanhe Ma worked in various positions in China\u00b4s Administration of Radio, Film and
\nTelevision for more than 30 years, before retiring from his post as head of the Hong Kong office\u00a0in March 2002.<\/p>\n
Cobus Stofberg is a founder member of M-Net in 1986. He served as CEO of the MIH group\u00a0from 1997 to 2011, and has been instrumental in the expansion of the group.<\/p>\n
The Naspers board now comprises 15 directors with Ton Vosloo as chair, Koos Bekker as CEO\u00a0and Steve Pacak as CFO.<\/p>\n
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