Naspers directorate changes

Naspers Limited (JSE: NPN, LSE: NPSN) today announced several changes to its board. Ton Vosloo, chair of Naspers advised “as Naspers’s subsidiary MIH Holdings (Pty) Ltd (MIH) had grown to comprise the vast majority of Naspers’ market capitalisation, large overlaps developed between the activities of the MIH and Naspers boards. It was decided to reconfigure the Naspers board.” As part of this process Messrs Lourens Jonker, Neil van Heerden and Prof Hein Willemse stepped down.” We thank them for their service and valuable contribution to the Naspers board” said Vosloo. In view of their print media expertise built up over many years, they have been invited to join the Media24 Holdings (Pty) Ltd board.

Messrs Craig Enenstein, Don Eriksson, Roberto Oliveira de Lima, Yuanhe Ma and Cobus Stofberg have been appointed directors of Naspers. Most of them previously served on the board of Naspers’ subsidiary MIH. Vosloo commented “we are pleased to welcome our new directors. They bring a wealth of knowledge and expertise to the board.

” Craig Enenstein is the CEO of Corridor Capital, LLC, a Los Angeles-based private equity fund. Mr Enenstein has experience in developing and driving growth strategies, performing operational improvements and facilitating highly complex strategic consortia investments. He holds an MBA Finance (Wharton School of Business), an MA International Studies (Lauder Institute: University of Pennsylvania) and a BA (University of California: Berkeley).

Don Eriksson is a chartered accountant (SA) and an honorary life member of the Institute of Directors (IOD). He is currently chair of Oakleaf Insurance Company Limited, Insurance Outsourcing Managers Holdings Limited, Renasa Insurance Company and a former trustee and current member of the audit and risk committees of Discovery Health Medical Scheme.

Roberto Oliveira de Lima is presently a board member of Telefonica Brasil, Natura Cosméticos, Rodobens Negócios Imobiliários and Companhia Brasileira de Distribuição in Brazil and Edenred in France. Mr Oliveira de Lima has a wealth of experience in the telecommunications sector where he was CEO of the leading mobile telecommunication company in South America, Vivo SA. He has a Bachelor in Public Administration and a Specialization in Corporate Administration from FGV-Fundação Getúlio Vargas, São Paulo, as well as a post-graduate degree in Finance and Strategic Planning from Institute Supérieur des Affaires.

Yuanhe Ma worked in various positions in China’s Administration of Radio, Film and Television for more than 30 years, before retiring from his post as head of the Hong Kong office in March 2002. Mr Ma graduated from Beijing Broadcasting Institute's Foreign Language Department and has wide experience in many parts of the world.

Cobus Stofberg is a founder member of M-Net in 1986. He served as CEO of the MIH group from 1997 to 2011, and has been instrumental in the expansion of the group. Prior to joining M-Net, he was a partner of Coopers & Lybrand (predecessor of PricewaterhouseCoopers Inc.). He holds a B.Comm (Law), LLB, from Stellenbosch, B.Compt (Honours) from the University of South Africa (UNISA) and qualified as a chartered accountant in South Africa.

The Naspers board now comprises 15 directors with Ton Vosloo as chair, Koos Bekker as CEO and Steve Pacak as CFO.

Naspers will report its financial results for the first half of the present financial year in the last week of November. More information on the group is available on the website www.naspers.com.