JSE-listed technology group Altron is creating a new technology, multimedia and IT (TMT) division to house subsidiaries Altech and Bytes. It will be headed by Altech CEO Craig Venter, with Bytes CEO Rob Abraham reporting to Venter.
Previously, Abraham reported to Venter’s brother, Altron CEO Robbie Venter.
The restructuring comes just days after minority shareholders in Altech voted in favour of an offer by Altron to buy them out and delist the company from the JSE.
Although the Altron TMT division will comprise both Altech and Bytes, these two businesses will continue to exist as separate entities maintaining their brand identities.
“As a result of increasing convergence between the IT and telecommunications sectors, we were starting to see many opportunities for Altech and Bytes to work closer together,” says Robbie Venter in a statement explaining the move. The move will help “eliminate overlap” between Altech and Bytes.
“We see opportunities for both revenue enhancement and cost efficiencies in the new structure,” Robbie says. “This will include the combination of the head offices of Bytes and Altech in the recently established Altech head office in Woodmead [north of Johannesburg].”
Along with his appointment to head the TMT division, Craig Venter also becomes an Altron group executive with strategic and operational responsibility for “maximising synergies” between the Altech and Bytes businesses. He will continue as Altech CEO.
Abraham will remain a member of the Altron executive committee and the group board.
Bytes chief financial officer Peter Riskowitz has been named Altron TMT chief financial officer reporting to Craig Venter.
Willie Oosthuysen, until now chief technology and strategy officer for Altech, has been named as Altron group executive for technology and strategy reporting to Robbie Venter. He is also joining the group executive committee.
“As Altron starts its transformation from a pure investment holding company to a strategic operating company, Willie will play a vital role in guiding and coordinating the operations towards not only greater efficiency but also a united go-to-market offering to our customers. Going forward our clients will be central to the way we structure our business and package our products and services,” says Robbie Venter in the statement. — (c) 2013 NewsCentral Media