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Prosus, parent group Naspers name Fabricio Bloisi as new CEO
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(Reuters) -Dutch technology investor Prosus and its South African parent group Naspers on Friday named Fabricio Bloisi as the new chief executive, replacing long-time boss Bob van Dijk who stepped down last September.
(Reuters) -Dutch technology investor Prosus and its South African parent group Naspers on Friday named Fabricio Bloisi as the new chief executive, replacing long-time boss Bob van Dijk who stepped down last September.
Bloisi, currently the CEO at iFood, a food delivery business in Latin America, will assume the role for both the companies on July 1, Prosus said in a statement.
“He (Bloisi) has a combination of vision, deep operational experience and strong discipline. It is this skill set, which the Board believes make him the right person to now lead us,” Prosus and Naspers Chair Koos Bekker said in a statement.
Outgoing CEO Dijk oversaw Prosus’s initial public offering in 2019 and the company stock’s upbeat performance during the COVID-19 pandemic. However, its shares fell along with technology valuations in the post-pandemic bust, struggling to reduce a discount in its value versus rival Tencent.
Interim CEO Ervin Tu has been appointed president and chief investment officer as Bloisi takes the helm.
(Reporting by Radhika Anilkumar and Prerna Bedi in Bengaluru; Editing by Varun H K and Sherry Jacob-Phillips)
An IPO, or Initial Public Offering, is the process through which a private company offers shares to the public for the first time, allowing it to raise capital from public investors.
Corporate governance refers to the systems, principles, and processes by which a company is directed and controlled, ensuring accountability and transparency in its operations.
Technology valuation is the process of determining the economic value of a technology or technology-based company, often considering factors like market potential, intellectual property, and competitive advantage.
A parent company is a corporation that owns enough voting stock in another company to control its policies and management, often referred to as a subsidiary.
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