PRIMEDIA LIMITED
PRI :ZAE 000031159
PRN: ZAE 000031167
In its first major move since announcing the proposed split of Primedia into
two separately listed entities, namely Filmco and Adco, Primedia announced
today that Ferdi Gazendam, the current COO of Primedia, will become CEO of
Filmco, the new entity which will hold Primedia's filmed entertainment
interests.
Filmco will comprise of Primedia's local based film interests that include
Ster-Kinekor Theatres, Ster-Kinekor Pictures and Ster-Kinekor Home
Entertainment. Primedia's international interests in Ster Century Europe and
Ster Century Middle East will also be part of Filmco.
Commenting on the announcement, Primedia CEO William Kirsh said, "Since
joining Primedia over 18 months ago, Ferdi has clearly demonstrated that he
has the leadership skills and industry expertise to head up a major listed
group. During this period he has focused a large part of his energy on our
filmed entertainment unit, and has been the major driving force in
delivering the turn-around at Ster-Kinekor Theatres. This track record
coupled with his experience in general management, make him the ideal
candidate to unlock the full potential of Filmco".
Commenting on his proposed appointment Ferdi Gazendam said, "I am extremely
excited about this opportunity and it represents a significant career move
for me. I look forward to delivering on shareholders' expectations of
making Filmco an exciting and distinguishable investment opportunity."
Ferdi Gazendam will take full responsibility for Filmco with immediate
effect. William Kirsh will head up Adco, the advertising and one-to-one
marketing businesses, which will retain the name Primedia once separately
floated from Filmco.
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