One of Naspers’ Long Serving Execs Mark Sorour is Stepping Down as CIO

0
Naspers future cape town
Naspers future cape town (Photo Credit: timthumb)

Africa’s biggest internet and media firm announced on Monday that Mark Sorour, its executive director and group chief investment officer, has decided to retire from the company.

Sorour has been with Naspers for more than 20 years.

“Mark has been at the forefront of all the group’s expansion efforts and has led some of the most meaningful transactions for Naspers,” the internet group informed investors on the JSE.

The company added that Mark will remain on the board as a non-executive director.

“His appointment will be presented for approval by shareholders at the next annual general meeting. He will also continue to serve as a non-executive director on the Mail.ru Group Limited board,” the company said.

“The board thanks Mark for his valuable contribution and looks forward to his insights as a non-executive director.”

The Internet firm owns stakes in companies in China, Brazil, Russia, US, and Europe, and video-on-demand services.

Last year, the company that owns MultiChoice Africa successfully priced a $1 billion (R13 billion) bond.

The tech firm, which owns stakes in China’s Tencent and Russia’s Mail. Ru, said the coupon of the bond, which is due to mature in 2027, was placed at 4.85%.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.