On Digital Media (ODM) just officially announced that TopTV CEO Vino Govender is out with immediate effect and that Eddie Mbalo is taking over as the interim new TopTV CEO - exactly as I said would happen on Tuesday.
In the statement TopTV says the pay TV operator's board and Vino Govender have reached a ''mutual separation'' which ''both parties believe will benefit the company in tis future developments''.
Eddie Mbalo is quoted in the press release as saying ''We would like to take this opportunity to thank him for the enormous contribution he has made to the start-up operation that is TopTV today. The launch of a second pay TV operator into the local market brought with it a shake-up in the industry that resulted in more choice and pricing options for consumers.''
With Vino Govender's immediate departure from the pay TV operator that has experienced a tumultuous few months, TopTV announced possible restructuring saying it will be done to ''ensure that the company remains competitive and relevant within the pay-TV environment in South Africa''.
Vino Govender is quoted saying he has decided to step down ''as he fulfilled his role in planning and executing the setup of the business over the past six years. It is time for fresh blood to take the business to new heights and I am confident the board will implement and achieve its strategic plans.''
Vino Govender's exit as TopTV CEO follows the executive exit of Michelle Meth who left TopTV as the chief financial officer (CFO) last month after she resigned.
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