Long-serving 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.
The Wits University-educated Patel joined SuperSport in 1999 as director of enterprises and regulatory affairs, according to his profile on LinkedIn.
“Mr Patel is currently serving as a non-independent non-executive chair. Given shareholder preference for an independent chair, it was always envisaged that Mr 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.
“The group has ensured that Mr Patel’s institutional knowledge and valuable relationships will not be lost to it. He will remain involved in assisting the group on a consultancy basis until October 2028. His involvement will include Showmax, SuperSport and other operational areas,” MultiChoice said. – © 2023 NewsCentral Media