Is Altron getting set for a comeback?
New CEO sets restructuring plan in action and focuses on cost efficiencies to woo investors
Allied Electronics (Altron) has entered a new era — one in which it has pinned its hopes on changes that might renew investor interest in the 51-year-old company. After only three weeks at the helm, CEO Mteto Nyati has introduced a raft of changes, charting a new direction for the electronics, technology and telecoms conglomerate. Nyati, who replaced scion Robbie Venter, has announced changes to the executive committee to create a "leaner group structure that is aligned" with its ICT ambitions. He has added executives leading human capital, shared services, marketing and the Altech Netstar operation to the executive committee. The group executives for corporate finance, strategy & technology and corporate affairs, and the operations executive for telecoms, multimedia & electronics and technology have been removed from the committee. "Our priorities as a group are to aggressively drive cost efficiencies; recruit, develop and retain top talent; build a trusted ICT brand; and accelerat...
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