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Africa's most valuable company, Naspers, has appointed Fabricio Bloisi, CEO of Brazil's iFood, as group CEO, replacing former chief investment officer Ervin Tu, who has served as interim CEO since September.
Bloisi had acquired iFood in 2013 when it was a 20-person start-up and since grown it rapidly and profitably to become Brazil's leading food delivery company, Naspers said in a statement, and he's set to take up the position at the beginning of July.
Naspers, along with Amsterdam-listed subsidiary Prosus, have a combined market value of about R2.6 trillion, and had moved to take full control of iFood in late 2022, spending about €1.5 billion (around R25 billion at the time) for the one-third of the business it didn't own. This is also one of the profitable parts of the group's business, and iFood had doubled its trading profit in the six months to end-September.
