South Africa’s JSE-listed technology firm Altron has surprised the market and unveiled Mteto Nyati, currently a CEO of MTN South Africa, as an incoming chief executive.
Nyati will assume his new role from 1 July 2017.
Nyati is an ex-MD of Microsoft’s South African subsidiary and an executive of tech giant IBM South Africa.
He holds a BSc in Mechanical Engineering from the University of KwaZulu-Natal.
His resignation at MTN is a big surprise. He joined MTN South Africa in October 2014 as group chief enter[prise officer and in July 2015 assumed the position of MTN South Africa CEO.
Nyati has been credited with starting a process to turn around MTN South Africa. The operation showed a positive turnaround in the second half of 2016 financial year.
His departure is likely to pose a challenge to MTN South Africa’s turnaround process.
He joins Altron a company that is being restructured resulting in the collapse of the Venters family’s control structure of the business into a single listed technology entity on the JSE.
“The board advised that after 27 years with the Altron group and 16 years as ChiefExecutive, Robbie Venter will step down as Altron Chief Executive in due course. Venter will remain on the Altron Board as a non-executive director to continue to provide his wealth of knowledge and experience to the company,” the company informed investors on Tuesday.
“The Altron Board would like to take this opportunity to thank Mr Venter for the positive contribution he has made to Altron over the past 27 years and welcomes Mr Nyati in the role of Altron Chief Executive”