Elias Masilela, who was due to succeed Patel as chair, has been named deputy chairman of the MultiChoice board.
Imtiaz Patel, chair of MultiChoice, has agreed to prolong his term until the conclusion of the pay-TV operator’s negotiations with Canal+, a French pay-TV player. Currently, Canal+ is engaged in exclusive talks with MultiChoice to acquire the shares in the operator that it does not already possess.
MultiChoice’s board has affirmed the importance of continuity during this crucial period, and said that “there is significant benefit in continuity at this time.” Consequently, Patel has consented to extend his tenure until the completion of the Canal+ transaction or any earlier date determined based on progress on the transaction.
Patel’s term, initially set to conclude on April 1, has now been extended to facilitate the ongoing negotiations with Canal+.
In light of these developments, Elias Masilela, a longstanding non-executive director and the designated chair, will assume the role of deputy chair of the MultiChoice board. Additionally, he will take on the responsibilities of lead independent director (LID), succeeding Jim Volkwyn, who will step down from his position as lead independent director but will continue to serve as a non-executive director.
