Altech New chief operating officer signs on

Allied Technologies Limited (Altech) appointed Laurence Savage as its new chief operating officer, the company said yesterday. His appointment will become effective in January. Savage is a previous managing director of Genrec Engineering and Hall Longmore. Both firms are part of the Murray & Roberts Group. Altech said Savage had an “impeccable deal-making and turnaround track record” that he would use to maximise shareholder value in Altech’s existing and future ventures. Savage’s experience spans various industries including the media, electronics, engineering and automotive sectors. He was also a former chief executive of Avis Fleet Services, where he was responsible for the southern Africa cluster. Altech’s stock shed 0.17 percent to R42.25 in midday trade yesterday, and closed 0.31 percent higher at R42.45. – Asha Speckman