Out with the old
How Mteto Nyati is recharging Altron
Independent CEO moves to recharge former family-run Altron
When 83-year-old Bill Venter stepped down as chairman of the company he founded more than 50 years ago and his son Robbie departed as CEO of Altron this year, it marked the final chapter in the family's operational control of what was once one of South Africa's biggest technology players. Started by Bill when he was 33, the story of Altron moves from it being a manufacturer of battery chargers, inverters and electronic signal equipment to a company expanding globally, buying companies in the US and other jurisdictions. The past decade, however, has not been kind to the family-controlled company, with the firm unable to keep up with fundamental changes in technology. Analysts have lain some of the blame for its 77% slide in its valuation since its May 2007 peak squarely on the shoulders of the family, in particular the heirs to the Venter dynasty, sons Robbie and Craig, who have run the two arms of the business - Altron and its subsidiary, Altech. Robbie, the more conservative of the...
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