Dutch-listed investment firm Prosus and its parent Naspers appointed Fabricio Bloisi as chief executive officer. He replaces long-time CEO Bob van Dijk who abruptly resigned last September.

Prosus, which is an investor in start-ups like Byju’s, Meesho and Swiggy, said that interim CEO Ervin Tu will become president and chief investment officer.

Bloisi will join the Naspers board as an executive director on July 1 and the Prosus board following its annual general meeting in August, subject to shareholder approval.

In a statement, Prosus said Bloisi is a “proven entrepreneur and innovator with deep roots in operating, building and scaling world-class technology companies within growth markets.”

“Backing exceptional entrepreneurs who improve people’s everyday lives through technology has brought us some success over the years. Fabricio is an entrepreneur with a proven track record. His appointment as CEO places innovation and entrepreneurship at the heart of the Group,” said Koos Bekker, Prosus and Naspers chair.

This comes at a time when Prosus is facing challenges with its portfolio company Byju’s. Prosus and other investors have have dragged the company to the NCLT over company affairs and a rights issue happening at 99% discount to the peak valuation of $22 billion.

Prosus has invested $7 billion in India. Recently, it elevated Ashutosh Sharma to lead its India and South-East Asia investments. Gautam Thakar, previously the CEO of Olx Autos, is head of edtech investments globally.

“I am proud that we have grown iFood into one of the largest and most successful brands in Latin America. This was driven by a passionate team balancing innovation with disciplined investment, while acting fast and empowering our great people. That combination is in my DNA, and I will bring it to my new role as Prosus and Naspers CEO,” Bloisi said in a statement.

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