Ervin Tu, President and Chief Investment Officer (CIO) of Naspers and its international investment arm Prosus , has resigned from his role, marking the latest leadership shift at the South African-owned multinational conglomerate. The announcement, made on June 3, 2025 , comes just months after Tu assumed interim leadership responsibilities following the departure of former CEO Bob van Dijk in 2023.
Tu’s exit raises fresh questions about stability at the helm of the companies, which control stakes in global tech giants, including a majority share in China’s Tencent, and oversee local operations like South Africa’s Takealot.com and PayU. While no official reason was given for his resignation, industry analysts speculate it may stem from strategic disagreements or the pressures of steering the group through a period of financial restructuring and divestiture.
The move follows a turbulent few years for Naspers and Prosus, which have faced scrutiny over declining stock valuations and a series of high-profile executive departures. In 2023, former CEO Bob van Dijk abruptly resigned after a decade in the role, paving the way for Tu to step in temporarily. Earlier this year, CFO Basil Sgourdos also retired after 29 years at the company, further destabilizing leadership.
A spokesperson for Prosus stated, “We respect Ervin’s decision and are confident in our ability to manage this transition smoothly,” though no successor has been named yet. Investors reacted cautiously, with shares dipping slightly in early trading as markets weighed the implications of another leadership change.
Public reaction has been mixed, with some praising Tu’s contributions to key deals, such as the $1.5 billion sale of OLX Brazil in 2024, while others criticized the lack of long-term strategic clarity from the group. A Pretoria-based investor noted, “This constant churn at the top makes it hard to trust the company’s direction”.
As Naspers and Prosus work to stabilize their leadership, the resignation underscores the challenges of balancing global ambitions with domestic expectations in an increasingly volatile economic climate.
