MultiChoice announces the Board of Directors shuffle.
By Lehlohonolo Lehana.
MultiChoice Group director Imtiaz Patel will step down as chairman of the board in March, and will be replaced by fellow director Elias Masilela in the role.
Patel served as CEO of MultiChoice between 2010 and 2015, and is also a previous CEO of SuperSport, a role he held for 11 years. He has agreed to stay on as a consultant to the group for another five years.
"Patel is currently serving as a non-independent non-executive chair. Given shareholder preference for an independent chair, it was always envisaged that Patel would step down at the appropriate time once a suitable replacement as independent chair had been identified," MultiChoice informed shareholders via the JSE on Monday.
His successor, Masilela, who takes over from Patel and board chairman on 1 April 2024, also serves as chairman of the board of Sanlam. He is also a former board member of the South African Reserve Bank and the Government Employees Pension Fund.
This follows a string of high-level executive changes at the company, such as Showmax CEO Yolisa Phahle's resignation last week.
“Discussions have been underway with an understanding that she will be entering the retirement phase of her career in the near future, thus the need for a seamless transition,” Group CEO Calvo Mawela said.
MultiChoice South Africa head Marc Jury became acting Showmax CEO on 1 September 2023, but Phahle will continue to work on a consultancy basis for a year and report to Jury.
Rendani Ramovha also took over the role of SuperSport CEO on 1 September, despite the plans for him to take over from 1 April 2024.
Collen Dlamini has also left his role as the lead on corporate affairs and stakeholder relations. He is now advising on legislative, regulatory and policy.