MultiChoice Group has notified its shareholders that Mr Imtiaz Patel, the Chair of the MultiChoice board of directors (“Board”), will be stepping down from the Board with effect from 31 March 2024. Mr Patel will be replaced as Chair by Mr Elias Masilela, a long-standing independent member of the Board, with effect from 1 April 2024.
Mr Patel is currently 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. 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.
The Group has ensured that Mr Patel’s institutional knowledge and valuable relationships will not be lost to it. He will remain involved in assisting the Group on a consultancy basis until October 2028. His involvement will include Showmax, SuperSport and other operational areas.
