Schibsted intends to spin off its marketplaces businesses outside the Nordics into a new company, MPI, with a listing on the Oslo Stock Exchange in April. Ahead of completion of the demerger, MPI has appointed Uvashni Raman as the new Chief Financial Officer. Raman will join the company in early March, coming from a position as CFO of the Video Entertainment segment of Naspers.
“As MPI prepares for the demerger from Schibsted and listing on the Oslo Stock Exchange, Uvashni Raman will bring both sector experience and functional expertise to the MPI executive team,” said Rolv Erik Ryssdal, CEO of MPI. “With more than a decade of experience as a finance executive, as well as a collaborative and a people-centric leadership style, she will ensure our new company is set up for success.”
Schibsted will spin off MPI (provisional name) as a stand-alone company, and aiming for first day of trading on the Oslo Stock Exchange 10 April 2019. MPI will consist of a strong portfolio of online classifieds sites in 16 countries. As a standalone company, MPI will a global leading online classifieds pure player, dedicated to providing perfect matches on trusted marketplaces.
Raman is an experienced finance leader, with experience from establishing strong finance operations in growth businesses. She comes from the position of CFO of the Video Entertainment segment of Naspers Holding, where she was responsible for all elements of the finance function as well as strategy and business development, procurement, IT, and investor relations. Previously she had a leadership role on the project to demerge South32 from BHP into a new company.
Borja de Muller, who has been acting as interim CFO since March 2018, will resume his previous role in the finance function of MPI, continuing to play a key role going forward. Susanna Grill, the previous CFO for the Schibsted Marketplaces division, has recently returned from parental leave, taking up a new role in Schibsted.
Contact person:
Jo Christian Steigedal, VP Head of IR. Tel: +47 415 08 733, email: jcs@schibsted.com
Oslo, 7 February 2019
SCHIBSTED ASA
Jo Christian Steigedal
Head of IR