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Prosus and Naspers Announce Fabricio Bloisi as New CEO

• ByStartupStory     |    May 18, 2024

Prosus N.V. (AEX: PRX) and its parent company Naspers today announced the unanimous decision by their Boards to appoint Fabricio Bloisi as the Chief Executive Officer (CEO) of Prosus and Naspers Group, effective July 1, 2024.

Bloisi, who currently serves as the CEO of iFood, brings a wealth of experience and a proven track record in the tech industry. Since acquiring iFood in 2013 when it was a modest 20-person startup, Bloisi has driven its growth to become Brazil’s leading food delivery company. His entrepreneurial spirit and innovative approach have established iFood as a prominent brand in Latin America and a global leader in food delivery services.

Koos Bekker, the chair of Prosus and Naspers, highlighted Bloisi’s appointment as a strategic move to place innovation and entrepreneurship at the core of the Group. Bekker stated, “Backing exceptional entrepreneurs who improve people’s everyday lives through technology has brought us some success over the years. Fabricio is an entrepreneur with a proven track record. His appointment as CEO places innovation and entrepreneurship at the heart of the Group.”

Ervin Tu, who has served as interim CEO for the past eight months, will transition to a new role as President and Chief Investment Officer (CIO). Bekker praised Tu for his leadership during a challenging period, noting his efforts to refocus teams and bring renewed energy to the company. “Ervin has done an outstanding job as our interim CEO. He navigated a challenging external environment, re-focused our teams, and brought energy and vigour to bear,” Bekker said.

Bloisi expressed his excitement and honor at being appointed CEO, stating, “It is an honour to be given the opportunity to lead Prosus and Naspers during a very exciting period of innovation and change within the technology space. I am proud that we have grown iFood into one of the largest and most successful brands in Latin America. This was driven by a passionate team balancing innovation with disciplined investment, while acting fast and empowering our great people.”

He added, “I believe we are in an amazing moment, where technology disruption can change the life of billions of people for the better. A company like Prosus must play an important role in identifying new technologies, such as AI, that impact the world and specifically emerging markets. Our focus on innovation and discipline, combined with our outstanding people, knowledge, and culture, is a recipe for better experiences for our customers, opportunities for employees and better results for our shareholders long into the future.”

Tu also expressed his enthusiasm for the future, commenting, “Fabricio has an incredible operating track record, founders’ passion, is a champion of culture and has the vision to think big and bigger. We’re in the midst of a fascinating time of change in the technology industry. There are many opportunities ahead and I couldn’t be more excited to work alongside Fabricio on this journey.”

Bloisi will join the Naspers board as an executive director on July 1, 2024, and will join the Prosus board following the AGM in August 2024, pending shareholder approval.

The Group’s strategic goals remain on track, with targets to achieve consolidated ecommerce trading profit in the second half of FY24 and the continuation of its open-ended share repurchase program. Detailed information will be provided in the year-end results scheduled for release on June 24, 2024.

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