Until 9 November, Imtiaz Patel had been serving as CEO of MultiChoice South Africa Holdings, Naspers revealed in its interim results for the six months ended 30 September.
Patel, who is the chief executive of Naspers’ Video Entertainment unit, was appointed as an executive director to fulfil the roles and responsibilities of the chief executive of MultiChoice South Africa Holdings on 8 June.
He resigned on 9 November and was replaced by Calvo Mawela, according to the financial statements.
This may be somewhat confusing, as Mawela has been serving CEO of MultiChoice South Africa since November 2017.
However, a spokesperson for MultiChoice explained to MyBroadband that MultiChoice South Africa Holdings (Pty.) Ltd. (MCSAH) had a separate CEO role from MultiChoice South Africa.
The reason for Patel’s departure as executive director and CEO of MCSAH is the announcement that Naspers will be unbundling its video entertainment unit and listing it separately on the JSE.
This unit will be called MultiChoice Group Limited (MCG), and Naspers announced on 25 October that Patel would be the executive chairman of the company.
Mawela will serve as CEO of MCG.
“His appointment also resulted in [Mawela] replacing Patel as executive director/CEO of MultiChoice South Africa Holdings, owing to Patel’s wider responsibilities as executive chair of MultiChoice South Africa Group.”
“Also note that MultiChoice South Africa Holdings is one of MultiChoice Group Limited’s subsidiaries,” the company told MyBroadband.
Subject to regulatory approval, MultiChoice Group is expected to list on the JSE in the first half of 2019.