Altron CEO Mteto Nyati resigns

JSE-listed technology company Altron has announced that group chief executive Mteto Nyati will step down from his role on 30 June 2022.

Altron said the decision was informed by Nyati’s search for a new challenge.

He is nearing the completion of a five-year term with the Altron Group and has contributed to an approximate sixfold increase in shareholder value, the company stated.

Nyati led Altron’s transition from a family-controlled and managed business to an independent corporate entity and contributed significantly to the achievement of several strategic initiatives, said Altron.

These included establishing and growing a core ICT portfolio and transforming Altron from a diversified technology group into a trusted information technology services company.

Nyati was instrumental in finalising a number of bolt-on acquisitions during his tenure including EZY2C in Australia, Phoenix Software in the UK and Karabina, and Ubusha and LAWtrust in South Africa.

Following the successful demerger, unbundling and separate listing of Bytes Technology Group plc during 2020, the businesses now have a combined market capitalisation of over R30 billion.

The Altron Board thanked Nyati for his “visionary and inspirational leadership, and his contribution to Altron and its shareholders”.

Altron said its nomination committee has started the process to identify and appoint a successor.

The Board wished Nyati well in his future endeavours and said it looked forward to his continued contribution prior to his departure.

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