Altron has appointed Andrew Holden as successor to retiring Bytes Technology Group CEO Rob Abraham.
Holden will take up the position of Alton's operations executive for information technology, following the retirement of long-time incumbent Abraham, who will step down at the end of February.
Abraham will remain at the helm of Bytes during the transition period and Holden will continue in his current role as Altron executive for shared services until he takes up his new job on 1 March.
Abraham joined Bytes in 1998 and has served as CEO since March 2010.
He says Holden's strong track record and substantial experience within the Bytes and Altron organisations made him the ideal candidate for the role.
"I have worked with Andrew for many years and he has demonstrated the necessary skills, strategic insight and integrity of character to ensure that Bytes Technology Group builds on its success as South Africa's largest IT services provider," says Abraham.
"This appointment indicates the emphasis Altron places on the continuity of executive leadership and this bodes particularly well for the organisation as a whole."
Holden has more than 20 years' experience within the Altron Group and has been in his current role since November 2013. Holden previously held similar senior positions as managing director of various Bytes subsidiaries. He is also a member of the Altech and Bytes executive committees and a member of the Altron IT Governance Committee. Upon his appointment, he will become a member of the Altron executive committee.
Holden says Bytes' continued success lies in its astute leadership team comprised of experienced MDs, each supported by their own dedicated management teams and employee complement.
Powertech sells PTSI
JSE-listed Altron also today announced its subsidiary Powertech will sell Powertech System Integrators (PTSI). Powertech has entered into an agreement to dispose of PTSI to Capitalworks for R140 million, exclusive of VAT.
The deal will exclude the businesses of Powertech QuadPro SA Proprietary Limited and Technology Integrated Solutions.
"The disposal of PTSI follows a joint strategic decision by both Altron and Powertech that PTSI was no longer a core asset for the Altron group and accordingly should be disposed of to a third party that would be better suited to further develop the business," says Altron CEO Robert Venter.
The deal will become effective following the fulfilment of the last of the conditions precedent and the proceeds realised will be used to reduce the overall Altron group debt.
Venter says the disposal is in line with Altron's new strategy to focus the group's competitive advantage in the IT and telecommunications space and limit its exposure to the manufacturing sector.
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