The parent company for DStv, MultiChoice has made an announcement that chairman Imtiaz Patel will be stepping down from the company’s board on the 31st of March 2024.
The person that will be taking over as chairman from the 1st of April 2024 will be Elias Masilela.
At the current moment, Patel is serving as a non-independent, non-executive Chair. “Given shareholder preference for an independent chair, it was always envisaged that Mr Patel would step down at the appropriate time once a suitable replacement as independent chair had been identified,” MultiChoice stated.
The company added that by saying that: “Mr Masilela is an excellent and experienced successor. He is also the chair of the board of Sanlam and is a former board member of the South African Reserve Bank and Government Employee Pension Fund.”
MultiChoice also mentioned that it has ensured that Patel’s institutional knowledge and valuable relationships will not be lost. “He will remain involved in assisting the group on a consultancy basis until October 2028,” the company added.
“His involvement will include Showmax, SuperSport, and other operational areas.”