Naspers CFO to retire

Naspers and Prosus’ chief financial officer, Basil Sgourdos, is set to retire from his position at the end of November this year.

In a SENS announcement released this morning, the Naspers and Prosus boards announced that after 29 years, Basil Sgourdos will retire from his position as Group CFO and financial director of both companies, effective 30 November 2024.

A qualified chartered accountant, Sgourdos worked at PricewaterhouseCoopers from 1989 to 1994. 

He joined Naspers in 1994, initially as the finance manager of MultiChoice’s South African operations division, before taking on several other global leadership positions within the group. 

He was appointed Group CFO of Naspers in July 2014 and of Prosus since its listing in 2019.

“While Basil will remain active in his role for another few months, I would like to take this opportunity to recognise and thank Basil for his dedicated service to the company over the last 29 years,” said chairman Koos Bekker.

“During this time, Basil has contributed to the establishment of the group as a leading global eCommerce company, creating significant value for shareholders.” 

“The boards sincerely thank Basil for his committed leadership and superb contribution”.

Naspers and Prosus said the human resources, remuneration, and nomination committees will begin the process of securing a suitably qualified successor to the Group CFO role. 

This move comes slightly less than a year after Naspers and Prosus announced that its CEO, Bob van Dijk, would step down.

In September 2023, the companies told shareholders that their boards had mutually agreed that Van Dijk would immediately step down from his position as chief executive and his position on the boards of both companies. 

“Van Dijk has agreed to assist with the transition after this date and will remain as a consultant to the group until 30 September 2024,” the companies said.

Van Dijk succeeded former Naspers CEO Koos Bekker in 2014. He has been the CEO of Prosus since its listing in 2019.

Following Van Dijk’s departure, Ervin Tu assumed the role of interim CEO of Naspers and Prosus. 

“Ervin assuming the role as Interim CEO will result in a seamless transition,” the companies said.

“As the Chief Investment Officer, he has made significant contributions to the strategic direction of the company and will provide continuity in the execution of the Group’s key priorities.”

In May this year, it was announced that Fabricio Bloisi was appointed as chief executive officer, replacing Tu. He assumed the role in July this year.