Fahd Beg
About Fahd Beg
Independent director of Skillsoft Corp. since July 2024; age 46. Investment Partner (and on the Investment Committee since Dec 2016) at Prosus N.V./Naspers, the indirect owner of MIH, Skillsoft’s largest shareholder; prior roles include COO of Prosus’s Edtech, Food and Ecommerce segments (2021–2024) and CIO (2018–2021). Previously Managing Director and Head of European Internet Investment Banking at Citigroup. Education: BA from McGill University and MBA from INSEAD .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Prosus Group | Investment Partner; Investment Committee member | Dec 2016–present | Capital allocation across tech portfolio |
| Prosus Group | COO, Edtech, Food, Ecommerce | 2021–2024 | Operated growth segments |
| Prosus Group | Chief Investment Officer | 2018–2021 | Led investment strategy |
| Citigroup | MD, Head of European Internet Investment Banking | Prior to Prosus | Led internet banking coverage |
| Eruditus Learning Solutions (Prosus portfolio) | Director | Jan 2022–Nov 2024 | Board oversight (edtech) |
| GoodHabitz (Prosus portfolio) | Director | Oct 2022–Jul 2024 | Board oversight (edtech) |
| Takealot Online (Prosus portfolio) | Director | Oct 2023–Mar 2024 | Board oversight (ecommerce) |
| Dante International / eMAG (Prosus portfolio) | Director | Nov 2023–May 2024 | Board oversight (ecommerce) |
| Good BidCo B.V. (Prosus portfolio) | Director | Oct 2022–Jun 2024 | Board oversight |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| iFood Holdings B.V. | Director | Sep 2023–present | Prosus portfolio; Brazil food delivery |
| MIH Internet (UK) Ltd (Prosus Group) | Investment Partner | Ongoing | Prosus affiliate |
Board Governance
- Independence: Board determined Beg is independent under NYSE standards .
- Committee assignments: Member, Nominating & Governance Committee; not a chair .
- Board and committee activity: FY2025 meetings held—Board 13; Audit 5; Compensation 6; Nominating & Governance 3 .
- Attendance: Each incumbent director attended at least 75% of aggregate Board and relevant committee meetings in FY2025, except Lawrence H. Summers; implies Beg met ≥75% threshold .
- Lead Independent Director: Lawrence H. Summers since Aug 2024; chairs Nominating & Governance .
- Designation rights and interlocks: MIH (Prosus affiliate) has rights to designate directors proportional to ownership; Beg and Paul Peake currently serve as MIH Directors. Churchill Sponsor also has designation rights, with Michael S. Klein serving as a Churchill Director .
- Insider trading, hedging/pledging: Company policy prohibits pledging and hedging by directors/officers; no director/officer shares were pledged as of May 19, 2025 .
Fixed Compensation
| Fiscal Year | Annual Retainer (Cash) | Committee Membership Fees | Committee Chair Fees | Equity Grant |
|---|---|---|---|---|
| FY2025 | $0 | $0 | $0 | $0 |
- MIH-designated directors (including Beg) were not compensated for board service in FY2025 .
- Program context: Board waived the general $50,000 annual retainer from Aug 1, 2024 to Aug 1, 2025; committee member ($10,000) and chair ($25,000) retainers remained; typical annual director equity grant valued at $200,000 RSUs, but MIH Directors did not receive grants .
Performance Compensation
| Component | Grant Date | Instrument | Quantity/Value | Vesting |
|---|---|---|---|---|
| Not applicable | — | — | — | Beg received no director equity grants (MIH Directors not compensated) . |
Other Directorships & Interlocks
| Entity | Type | Role | Interlock/Conflict Notes |
|---|---|---|---|
| MIH Learning B.V. / Prosus Group | Controlling shareholder affiliate | MIH Director designation (Beg) | MIH owns ~41.8% of SKIL; director designation rights under MIH Subscription Agreement . |
| Paul Peake (SKIL director) | Prosus Group executive | MIH Director designation (Peake) | Prosus GC for Food, B2C, Edtech; sits on SKIL Compensation Committee; Prosus affiliation interlock . |
| Churchill Sponsor II / Michael S. Klein | Significant holder | Churchill Director designation (Klein) | Sponsor has committee representation rights while >5% ownership . |
Expertise & Qualifications
- Board skills matrix: Beg flagged for Corporate Governance, Mergers & Acquisitions, Executive Leadership, Strategy .
- Industry exposure: Extensive edtech and high-growth company experience through Prosus portfolio .
Equity Ownership
| Holder | Shares Beneficially Owned | % Outstanding | Pledged |
|---|---|---|---|
| Fahd Beg | 0 | 0% | None pledged among directors/officers as of May 19, 2025 |
- Largest holder: MIH Learning B.V. (Prosus affiliate) beneficially owns 3,896,418 shares (41.8%); includes 833,333 shares issuable upon exercise of vested warrants .
- Director deferred equity: Not applicable to Beg in FY2025; MIH Directors did not receive RSUs .
Related Party Transactions
- Prosus-affiliated agreements: Renewal in Jan 2025 for off-the-shelf Skillsoft products totaling $0.8 million over three years; additional one-year agreements in Mar 2024 ($84,000) and Apr 2025 ($69,000). All approved by the Audit Committee under the Related Person Transactions Policy, with pricing aligned to standard practices. Prosus (via MIH) beneficially owns ~42% of SKIL .
Governance Assessment
- Alignment: As an MIH-designated director, Beg receives no SKIL board compensation or RSU grants, limiting direct pay alignment with minority shareholders but aligning with Prosus/MIH’s significant equity stake .
- Effectiveness: Active on Nominating & Governance; independence affirmed under NYSE standards; attendance met ≥75% threshold, supporting engagement .
- Oversight context: Strong independent committee chairs (Audit—Karen G. Mills; Compensation—Helena B. Foulkes; Nominating—Lawrence H. Summers) and anti-hedging/pledging policy mitigate governance risks associated with concentrated ownership and director designation rights .
RED FLAGS
- Concentrated ownership and designation rights: MIH/Prosus controls ~41.8% and designates directors (Beg, Peake), potentially influencing board dynamics and committees .
- Related-party transactions: Ongoing Prosus-affiliated commercial agreements—while Audit Committee-approved and at standard pricing—require continued scrutiny for arm’s‑length terms .
- Limited director equity/pay: No SKIL equity grants or fees to MIH Directors may reduce direct personal economic alignment with minority holders, though alignment via Prosus stake is substantial .