by AKANI CHAUKE
JOHANNESBURG, (CAJ News) – MTETO Nyati will step down from his role as Altron Group Chief Executive at the end of June, the Johannesburg Stock Exchange-listed firm confirmed.
He will conclude a successful five-year term when he steered the technology company with a market capitalisation in excess of R30 billion.
This followed the successful demerger, unbundling and separate listing of Bytes Technology Group during 2020.
After leaving his CEO position at MTN South Africa in 2017, Nyati led Altron’s transition from a family-controlled and managed business to an independent corporate entity.
He was instrumental in finalising a number of acquisitions during his tenure including EZY2C in Australia, Phoenix Software in the UK and Karabina, Ubusha and LAWtrust in South Africa.
The Altron board extended its gratitude to Nyati for his “visionary and inspirational leadership, and his contribution to Altron and its shareholders.”
Altron’s Nomination Committee has started the process to identify and appoint a successor, a statement read.
“The board wished Nyati well in his future endeavours and said it looked forward to his continued contribution prior to his departure.”
The outgoing executive (57) is said to be “in search for a new challenge.”
– CAJ News