MultiChoice has announced Imtiaz Patel’s exit as chairman, just weeks after saying he would stay on in the role.
Browsing: Imtiaz Patel
Brandon Foot, a long-serving executive at MultiChoice Group – including its subsidiary SuperSport – has passed away.
MultiChoice has rescinded a previous announcement that Imtiaz Patel would step down as its chairman with effect from 1 April.
Long-serving MultiChoice Group director Imtiaz Patel will step down as chairman of the board in March.
Long-serving MultiChoice Group director Imtiaz Patel will relinquish his executive duties in September 2020, the pay-television broadcaster said on Tuesday.
Shareholders in MultiChoice, which was unbundled from Naspers on 4 March, rejected the group’s executive pay at Thursday’s AGM.
Shareholders in MultiChoice Group sent a strong message at the company’s first annual general meeting as a JSE-listed company, registering their displeasure over its remuneration policy.
MultiChoice Group executive chairman Imtiaz Patel received almost $1.5-million (about R21.4-million at the time of writing) in base salary, bonuses, pension and short-term incentives in the 2019 financial year.
MultiChoice Africa Group, which will list on the JSE next month, expects to pay executive chairman Imtiaz Patel R22.2-million for the year ended 31 March 2019, up from R19.7-million in the 2018 financial year.
Naspers has announced a management shake-up at MultiChoice, with the creation of a new MultiChoice Group business (formerly Naspers Video Entertainment), which will be headed by Calvo Mawela.