Johannesburg - Altron has streamlined its executive committee following Altron TMT CEO Craig Venter's resignation.
The move, which is also inline with the company’s bid to cut costs through a leaner management structure, will see Altron transforming from an investment holding company to one that is operational.
Its executive committee will now comprise 8 members, and be headed by Altron CEO Robert Venter.
The rest of the committee comprises Alex Smith as CFO, Douglas Ramaphosa as group executive for corporate affairs, Dr Willie Oosthuysen as group executive of technology and strategy, Peter Riskowitz who is group executive of corporate finance, Rob Abraham - who was previously Bytes Technology CEO - as operations executive for IT, Laurence Savage will head up telecommunications and multimedia as operations executive, and Neil Kayton, who is operations executive of power, the PowerTech holding.
Altron explains it noted during its annual results presentation in May that the company would significantly reduce central costs by creating a leaner management structure.
The simplified management structure will also aid it in extracting further benefits from its two-year-old purchase of the minority stake in Altech, which Craig Venter had been CEO of prior to the deal.
The process will also see the Altron TMT executive committee, which Craig Venter had led, being disbanded at the end of the month, it says.
Craig Venter’s resignation, after 27 years with the group, was announced on 20 May. This followed Altron’s statement that it would transition from a family managed business to an independent management structure.
Craig Venter will play more of an oversight role in the Venter family’s private investments.
IOL