Newly appointed Altron CEO Mteto Nyati has moved quickly to stamp his authority on the listed technology company, naming a new executive committee and scrapping “redundant” positions.
The idea behind the restructuring is to create a leaner group structure aligned to its ambitions in the ICT market, Altron said in a media statement on Tuesday.
“Our priorities as a group are to aggressively drive cost efficiencies; recruit, develop and retain top talent; build a trusted ICT brand; and accelerate growth,” said Nyati in the statement. “The new structure reflects these priorities while setting the tone across the group on a cost focus.”
The executives leading human capital, shared services, marketing and the Altech Netstar operation will be members of the Altron exco, he said, while several previous exco positions have been made redundant.
Positions made redundant are the group executives for corporate finance, strategy and technology, and corporate affairs, as well as the operations executive for telecommunications, multimedia and electronics, and operations executive for technology.
Following the implementation of the new structure, the Altron exco will consist of Nyati (CEO), Alex Smith (chief financial officer), Andrew Holden (chief operating officer), Johan Klein (group executive for human capital); Neil Kayton (operations executive for Altron Power) and Harry Louw (Altech Netstar MD). Group executives for shared services and marketing, also now exco roles, must still be filled.
“The new structure will be operationalised by the end of April, after which my new exco and I will go into a strategy formulation process,” Nyati said in the statement.
Regarding Altech Netstar, Nyati said the operation needs “senior management intervention to realise its full potential”. He didn’t elaborate.
“With the consolidation of the group assets, it is critical that the structure is aligned to our strategy and objectives, while enabling us to put our customers at the centre of everything we do by anticipating their future needs and finding innovative ways to meet them,” said Nyati, who joined Altron from MTN, where he was CEO of the telecoms group’s South African operation. He replaced Robbie Venter at Altron.
Altron was trading unchanged at R10/share shortly after 4pm on Tuesday. — © 2017 NewsCentral Media