DStv-owner MultiChoice announced today that the chair of its board of directors, Imtiaz Patel, would be stepping down, and Elias Masilela, a long-standing independent board member, would be taking his place.
Patel will be stepping down from the board with effect from 31 March 2024. He has been with the company since 1999, where he has served as the CEO of SuperSport and the CEO of MultiChoice.
He is currently serving as a non-independent, non-executive chair.
His replacement, Masilela, is a long-standing independent member of the MultiChoice board. He is also the chair of the board of Sanlam and a former board member of the South African Reserve Bank and Government Employee Pension Fund.
“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 told shareholders this morning.
Patel will remain involved in assisting the company on a consultancy basis until October 2028. His involvement will include Showmax, SuperSport and other operational areas, the company said.
“The board expresses its gratitude to Patel for his invaluable contributions to the group and his exceptional leadership over the years and is delighted that he will continue to play an active role.”