Patel will remain an advisor to the company, including on Showmax and SuperSport.
MultiChoice, the prominent African pay-TV company, has announced that its Chairman, Imtiaz Patel, will be stepping down from the board effective March 31, 2024. He will be succeeded by Elias Masilela, the Executive Chairman of DNA Economics and a Commissioner of the 1st & 2nd National Planning Commission.
In a statement, MultiChoice said: “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.”
“Mr Masilela is an excellent and experienced successor. He is also the chair of the board of Sanlam and is a former board member of the South African Reserve Bank and Government Employee Pension Fund.”
Patel will continue to provide his valuable insights and expertise to the company in an advisory capacity, including guidance on matters related to Showmax and SuperSport.