John James “Jim” Volkwyn will step down from MultiChoice’s board of directors effective Wednesday, adding to the series of recent exits among directors with consulting arrangements with the company.
MultiChoice, Africa’s largest pay TV provider, has faced scrutiny from investors over governance issues linked to consulting relationships held by several current and former board members. As the group navigates a takeover bid from French broadcaster Canal+, it announced that Volkwyn chose not to stand for re-election at the annual general meeting (AGM) on August 28, leading to his retirement effective the same date.
Volkwyn’s association with MultiChoice spans over 33 years, having served as a director of MultiChoice SA since March 2007 and as an independent non-executive director of the group since its listing in 2019, following its separation from Naspers. He previously held the role of CEO of Naspers’ global video entertainment business.
In response to recent concerns, MultiChoice clarified that Volkwyn’s consultancy arrangements with the group were fully disclosed to shareholders. The company stated, “The consultancy arrangements were at all times disclosed to shareholders,” and confirmed that they were “lawful in all respects, as confirmed by external legal advice.” Additionally, the board ensured that the arrangements complied with corporate governance requirements.
This announcement follows Imtiaz Patel’s resignation as chair of MultiChoice in April. Patel, who had stepped down from the role in September 2023 after nearly three years, resigned amid criticism over governance issues related to board members’ consultancy deals.
Recently, the company also ended a consultancy contract with Kgomotso Moroka, a long-serving board member, after investor concerns questioned the propriety of her consultancy deal and its potential impact on her role as an independent director.