News and entertainment business Arena Holdings announced in a staff communication letter circulated on Friday that its CEO Mzi Malunga will leave the company at the end of August.
The company, which owns titles such as Sunday Times, Business Day, Financial Mail and Sowetan, said it had reached a “mutual separation” agreement with Malunga, who has been serving in the role since May 2022.
Malunga is a well-known businessman and journalist who previously worked as business editor for Sowetan and managing editor of Business Day and Financial Mail.
Lebashe Investment Group, an unlisted investment holding company, launched Arena Holdings in 2019 to house all its media assets bought from Tiso Blackstar for R1.05bn.
Pule Molebeledi, the MD for news and media at Arena, has been appointed acting CEO.
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