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Monday, 18 September 2023 08:35

Naspers, and Prosus CEO Bob van Dijk steps down.

By Lehlohonolo Lehana.

Bob van Dijk is stepping down as CEO of both Naspers and its European-listed spinoff Prosus with immediate effect.

The companies made the announcement shortly after markets opened in Johannesburg on Monday. 

"The Naspers and Prosus boards and Bob van Dijk have mutually agreed that Bob will, effective 18 September 2023, step down from his position as chief executive as well as his position on the boards of both companies," the companies said. 

"Bob has agreed to assist with the transition after this date and will remain as a consultant to the group until 30 September 2024."

Van Dijk was CEO of Naspers since 2014, and of Prosus since its listing in 2019. Ervin Tu, presently the group's chief investment officer, was appointed interim CEO

According to the statement, the group's strategic goals remain unchanged, and it is on target to deliver on its commitments, "including achieving consolidated e-commerce trading profit during the first half of FY25 and the continuation of the open-ended share repurchase programme."

"The Boards of Prosus and Naspers want to thank Bob for his leadership over a full decade," said chairman Koos Bekker in a statement issue to press shortly after the shareholder announcement.

In SA, Naspers owns internet and e-commerce companies including Takealot, Mr D Food, Superbalist, Autotrader, Property24, and News24 publisher Media24. 

Shares in Naspers were up almost 1% on Monday morning, while those of Prosus were down marginally in Amsterdam.

During Van Dijk's term, Naspers and Prosus implemented a cross-holding structure aimed at helping to reduce the discount in 2021. But the structure was criticised as being too complex, and the cross-holding was recently reversed.