Years after starting a process to sell its non-core assets, JSE-listed technology group Altron has received regulatory approval to dispose of the last company it had a controlling interest in and which it had ring-fenced for sale.
Browsing: Mteto Nyati
Zoaib Hoosen has resigned as MD of Microsoft’s South African subsidiary and will be replaced by Lillian Barnard, the software giant said on Monday.
Altron’s continued turnaround, under the leadership of CEO Mteto Nyati, delivered the best performance among technology shares listed on the JSE in 2018, TechCentral’s annual review of the sector shows.
Altron has resumed dividend payments to shareholders, sending the group’s shares higher on the JSE on Thursday. It’s the first time it has paid a dividend since 2016.
Netstar, a subsidiary of JSE-listed Altron, said on Monday that it has signed a joint venture deal with C Ahead Technology to offer insurance and fleet telematics in India.
Altron’s turnaround under CEO Mteto Nyati is gathering a head of steam. The JSE-listed technology group expects interim headline earnings from continuing operations to surge by as much as 52%.
For the second time in less than five years, Altron has launched a major refresh of its brand identity. It last did this in early 2014.
Bill Venter has stepped down from the board of directors of the company he founded 53 years ago. He will step down as nonexecutive director effective 31 July 2018.
Altron has taken another big step in shedding its legacy industrial assets as the JSE-listed technology group transforms into an ICT-focused business.
Luring former MTN South Africa CEO Mteto Nyati to take over as CEO of Altron from Robbie Venter didn’t come cheap. Nyati was paid a R6.5-million sign-on bonus, the JSE-listed technology group’s annual report