Could Naspers’ New Boss Finally Dethrone Tencent?

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1. Setting Ambitious Goals:
   • Fabricio Bloisi, the new CEO of South Africa’s Naspers group, is determined to revolutionize the corporate culture and achieve an ambitious goal of doubling the market value of its investment arm, Prosus, within four years.
   • Despite Prosus being the largest shareholder in China’s internet giant Tencent, its value is still underestimated, leaving much room for growth and improvement.
2. Business Transformation:
   • Naspers’ $32mn investment in Tencent back in 2001 has now bloomed into a $115bn stake. However, Prosus, with a valuation of around $105bn, fails to reflect the true value of its diversified global assets.
   • As the new CEO, Bloisi aims to enhance the value of other businesses under Prosus to match or even surpass its Tencent stake, paving the way for future growth and prosperity.
3. Revamping Compensation and Performance:
   • Bloisi’s performance-driven compensation plan, including a $100mn reward if Prosus reaches a $168bn market value, emphasizes the importance of tangible results and growth.
   • He aims to instill an entrepreneurial culture within Prosus to foster innovation and risk-taking, essential for driving the company forward in the rapidly evolving tech landscape.
4. Criticism and Reforms:
   • Bloisi’s compensation package has faced criticism from some quarters for being excessive, but it aligns with his vision of rewarding growth and success based on performance.
   • The focus on driving shareholder returns and outperforming industry peers like Amazon and Uber reflects a shift towards a results-driven culture under his leadership.

In conclusion, under Fabricio Bloisi’s stewardship, Prosus is poised for a period of transformation and growth, with a renewed focus on innovation, risk-taking, and performance-driven results. Embracing change and fostering a culture of entrepreneurship, the company aims to unlock its full potential and redefine its place in the global market. Join us on this journey towards a future filled with possibilities and success.