Major Leadership Shift at Naspers & Prosus

  • CEO Leadership Change: Bob van Dijk steps down as CEO of Naspers and Prosus, effective September 18, 2023.
  • Interim CEO Appointment: Ervin Tu takes on the role of interim CEO to ensure smooth leadership transition.
  • Strategic Goals Unchanged: Despite the change, the company remains committed to its strategic objectives and shareholder value.
Naspers Prosus

In a significant development in the South African corporate landscape, Bob van Dijk, the long-serving Chief Executive Officer of Naspers Limited, is stepping down from his leadership role. This change, which also affects his position on the boards of both Naspers and Prosus, is effective as of September 18, 2023.

Transition at the Helm

Bob van Dijk has been at the helm of Naspers since 2014, and he assumed the role of Chief Executive of Prosus upon its listing in 2019. During his tenure, he played a pivotal role in transforming Naspers into a global consumer internet company and helped create substantial value for shareholders.

The decision for Bob van Dijk’s departure was made through mutual agreement between him and the Naspers and Prosus boards. Despite his departure from the CEO role, Bob has agreed to provide assistance during the transition phase and will continue to serve as a consultant to the group until September 30, 2024.

Interim CEO Appointment

To ensure a smooth transition and continuity of leadership, Ervin Tu will take on the role of interim Chief Executive for both Naspers and Prosus. Ervin Tu’s appointment comes at a crucial time as the group strives to achieve its strategic goals. These goals include the commitment to deliver a consolidated e-commerce trading profit during the first half of FY25 and the continuation of the open-ended share repurchase program.

Looking Ahead

Despite this leadership change, the group emphasizes that its strategic objectives remain unchanged. The company is on track to fulfill its commitments and is dedicated to building on its position as a global technology investor. Specific details and updates related to these developments will be shared in the upcoming interim results, scheduled to be published on November 29, 2023.

Shareholder Engagement

Acknowledging the importance of transparency and open communication with stakeholders, the company has arranged a shareholder call to discuss this significant announcement. The call is scheduled for 11:00 am CET on September 18, 2023, providing an opportunity for investors to gain insights and seek clarification on these changes. Shareholders can register for the call using the provided link.

Forward-Looking Statements and Disclaimer

It’s worth noting that this announcement contains forward-looking statements, estimates, and projections. These statements reflect the company’s intentions, beliefs, or current expectations as of the date of the announcement but are subject to change due to various factors, known and unknown risks, and uncertainties. Therefore, readers are cautioned not to rely solely on these forward-looking statements as predictions of actual results.

Bob van Dijk’s departure marks a significant moment in the history of Naspers and Prosus. His leadership and contributions have been instrumental in the transformation and growth of the companies. As South Africa’s tech sector continues to evolve, the transition to new leadership under Ervin Tu will be closely watched by stakeholders and the broader business community.

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