Prosus N.V. (AEX: PRX) announced today that the Boards of Prosus and Naspers have unanimously appointed Fabricio Bloisi as Chief Executive Officer (CEO) of the Prosus and Naspers Group, effective from July 1, 2024.

Fabricio Bloisi transitions to this role from his position as CEO of iFood. Under Bloisi’s leadership, iFood transformed from a 20-person startup acquired in 2013 into Brazil’s leading food delivery company. Known for his entrepreneurial spirit and innovative approach, Bloisi has a proven track record of building and scaling technology companies in growth markets.

The Board expressed gratitude to Ervin Tu for his effective leadership as Interim CEO over the past eight months. Tu will continue with the Group in a new capacity as President and Chief Investment Officer (CIO).

Koos Bekker, Chair of Prosus and Naspers, stated, “Backing exceptional entrepreneurs who improve people’s everyday lives through technology has brought us 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. Fabricio has established iFood as one of the most innovative food delivery companies in the world, renowned across Latin America. His vision, operational experience, and strong discipline make him the right person to lead us.”

Bekker also praised Ervin Tu’s performance as interim CEO, noting his effective navigation through a challenging environment and his role in refocusing and energizing the team. As the new President and CIO, Tu will be integral in shaping the Group’s future strategy, investments, and capital allocation.

Commenting on his new role, Fabricio Bloisi said, “It is an honor to lead Prosus and Naspers during this exciting period of innovation and change within the technology space. Growing iFood into one of Latin America’s largest and most successful brands was driven by a passionate team balancing innovation with disciplined investment, acting fast, and empowering great people. This approach is in my DNA, and I will bring it to my new role as CEO.”

Bloisi emphasized the importance of leveraging technology to improve lives globally, especially in emerging markets. He highlighted the Group’s focus on identifying impactful new technologies, such as AI, and underscored the value of innovation and discipline in achieving better outcomes for customers, employees, and shareholders.

Ervin Tu expressed his enthusiasm for working alongside Bloisi, praising his operating track record, passion, cultural leadership, and visionary thinking.

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

The Group remains committed to its strategic goals, including achieving consolidated ecommerce trading profit in the second half of FY24 and continuing the open-ended share repurchase program. Detailed information will be provided in the year-end results to be published on June 24, 2024.

A Look at Fabricio Bloisi

Fabricio Bloisi is the founder of Movile and the CEO of iFood, the leading food delivery company in Latin America. iFood employs over 5,000 people, partners with 350,000 restaurants, collaborates with 300,000 delivery couriers, and processes over 96 million orders per month. In 2022, iFood’s activities contributed to 0.53% of Brazil’s GDP, moving $20 billion in gross production value.

Bloisi holds a degree in Computer Science from the State University of Campinas (UNICAMP) and an MBA from Getulio Vargas Foundation (FGV/EAESP). His academic focus was on high-growth startups, innovation, and strategy. He also completed the EPGC program at Stanford Graduate School of Business and the OPM at Harvard.

Dedicated to promoting education, Bloisi founded the 1Bi Foundation to support technology-driven education projects, including Potência Tech, Meu Diploma do Ensino Médio, Movimento Tech, and the XPrize. In 2023, Bloisi was appointed as a UN spokesperson on education for Sustainable Development Goal 4 in Brazil and joined the economic and sustainable development council of the President of Brazil.