Stewart van Graan will replace Mteto Nyati as CEO of Altron on 1 July, albeit on an interim basis. Nyati is stepping down after five years at the helm of the JSE-listed technology group.
Altron emphasised the appointment is “interim and acting only” until 30 September, when it expects a permanent replacement to Nyati will have been found. Van Graan was already serving as Altron’s non-executive chairman.
Phumla Mnganga will act as lead independent director from 1 July to 30 September 2022, Altron said.
Altron announced Nyati’s resignation back in January. It said at the time that his decision was informed by his “impending completion of a five-year term with the Altron Group, his successful contribution to increasing shareholder value by approximately six times during his tenure, and his search for a new challenge”.
Nyati, who joined Altron from MTN Group, where he was CEO of the mobile operator’s South African subsidiary, replaced Robbie Venter – son of Altron founder Bill Venter – as CEO of the storied electronics and technology group that was established in 1965.
In a statement at the time, Altron said Nyati led the group’s transition from a family-controlled and -managed business to an “independent corporate entity”. He also “contributed significantly to the achievement of several strategic initiatives at Altron”.
“These included establishing and growing a core ICT portfolio and transforming Altron from a diversified technology group into a trusted IT services company,” it said.
Background
The most significant corporate action on Nyati’s watch at Altron was the demerger, unbundling and separate listing of Bytes Technology Group plc in 2020. Bytes is now listed in London, with a secondary listing on the JSE. Nyati also oversaw the acquisition of EZY2C in Australia, Phoenix Software in the UK, and Karabina, Ubusha Technologies and LAWtrust in South Africa.
Before his stints at Altron and MTN, Nyati was MD of Microsoft’s local unit. Before that, he served as an executive at IBM South Africa.
Van Graan was elected as chairman of Altron’s board in July 2021 and has been an independent non-executive director of the Altron board since 2017.
“He has a strong industry background and solid track record in technology. He was formerly MD of Dell South Africa. Prior to leaving Dell in April 2017, Van Graan was vice president for the enterprise solutions business in the Europe, Middle East and Africa emerging markets,” Altron said. – © 2022 NewsCentral Media
