Prosus’s new interim CEO inherits a conundrum from his predecessor: how to bridge the yawning gap between the value of the company’s stock and its assets.
Browsing: Bob van Dijk
Ervin Tu, newly appointed Naspers and Prosus interim CEO, has promised investors stability and investment discipline.
Bob van Dijk is stepping down as CEO of both Naspers and its European-listed spinoff Prosus with immediate effect.
The removal of the cross-holding structure will let Naspers continue its share buyback programme.
Naspers-owned Prosus has continued its selloff of China’s Tencent, bringing its stake in the Chinese internet giant to under 26%.
Prosus and its parent Naspers are planning to cut their corporate workforce by 30%, becoming the latest companies in global tech to announce layoffs.
The Naspers-controlled Internet investment firm has agreed to pay as much as €1.8-billion to acquire a further 33.3% stake in Brazil’s iFood.
Takealot Group has built a powerful platform that will stand it in good stead in an increasingly competitive market, said Naspers CEO Bob van Dijk.
Prosus expects to write off the equivalent of R11.8-billion and has asked its directors on the board of social media platform VK to resign.
Prosus CEO Bob van Dijk has purchased about $10-million of the company’s shares on the open market.