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EXCLUSIVE: Naspers CFO Basil Sgourdos to Hang Up His Boots – But What’s Behind the Retirement?

[Image of Basil Sgourdos with a red X marked through it]

The news is out: Basil Sgourdos, the longtime CFO of Naspers and Prosus, is calling it quits at the end of November 2024. But don’t be fooled – this retirement is not just a normal part of the corporate cycle. There’s more to it than meets the eye.

Sgourdos, who’s been with Naspers for a whopping 29 years, has been instrumental in shaping the company’s financial strategy. But has his tenure been marked by success or stagnation? The jury’s still out.

As CFO, Sgourdos has been responsible for navigating the company through some of its most tumultuous periods. But has he been able to deliver the kind of returns that investors were hoping for? The answer, much like Sgourdos’ retirement, remains unclear.

Naspers and Prosus chairman Koos Bekker praised Sgourdos for his contributions to the company’s growth, saying he’s "created significant value for shareholders." But what exactly does that mean? Has Sgourdos been a mastermind behind the scenes, or has he simply been a loyal soldier following orders?

The search for a successor is already underway, but one thing’s for sure: Sgourdos’ departure will leave a void that’s hard to fill. But will his retirement be a blessing in disguise, or a sign of things to come?

Stay tuned for more on this developing story…