Ishmet Davidson, CEO of Media24 since 2018, is stepping down as CEO and a board member. He will be succeeded by Raj Lalbahadur, currently the group CFO, as interim CEO. Davidson will remain involved in the company in an advisory capacity.
“Although I look forward to my retirement, I’m sad to be leaving Media24. The company has always been at the vanguard of exceptional journalism as well as business and media innovation, and able to adapt timeously to the ever-evolving media landscape,” said Davidson.
“This was made possible by the guidance and support of the board of directors and our chair, Professor Rachel Jafta, for which I thank them with much appreciation.”
Davidson said he took great comfort that the business was in safe hands with Raj Lalbahadurat the helm, supported by an exceptional management team.
Davidson joined Media24 in 2012 as head of community newspapers. He became the head of its news division in 2014, after which the media distribution company On the Dot and Media24’s magazine division were added to his responsibilities as the company’s first CEO: Print Media.
Lalbahadur joined Media24 in 2007 as CFO for Educor after holding positions in, among others, the petroleum and paper-manufacturing industries and SARS. He was appointed CFO of Media24 Lifestyle (magazine) division in 2009, acted as Media24’s CFO in 2015 and was appointed as general manager of Lifestyle in 2017. Raj was appointed as Media24’s group CFO and director responsible for the finance function in 2023.
He said he was humbled and honoured by the board’s confidence in him.
“We find ourselves on the cusp of major transformation – not only for Media24, but the industry at large. However, Ishmet’s legacy is leaving us with a strong foundation for the next chapter. With the support of our outstanding people and equally excellent leadership team, I look forward to an exciting future in this ever-changing landscape.”
