Allied Electronics Corporation (Altron), the JSE listed electrical and electronics technology company, has added more colour to its board of directors through the appointment of Ronnie Ntuli and Sindi Mabaso-Koyana.
Altron announced this week the appointment of Ntuli and Mabaso as independent non-executive directors in what is set to improve its BBBEE credentials even though the move can be seen as a game of corporate musical chairs.
Effective from 8 October 2013, the appointments come after Altron completed a significant reorganisation of its structure. This came via the buyout of minorities and delisting of Allied Technologies (Altech). Both Ntuli and Koyana were non executive directors of Altech which is now housed under a division called Altron TMT.
As such and within the Altron world, the Ntuli/Koyana appointment can be seen as a promotion of sort. They join on the Altron board led by Bill Venter himself, the non executive chairman who founded the company and guided it to a world class technology concern. The board also featuresRobert Venter, Bill’s son and CEO of the company, Craig Venter (Bill’s son and CEO of Altron TMT, Alex Smith who is Chief Financial Officer. The list of non-executive directors include heavyweights like Norman Adami, Grant Gelink, Mike Leeming, Penuell Maduna, Dawn Mokhobo, Jacob Modise, Simon Susman and Myron Berzack.
The new appointees Ntuli and Mabaso will be at home in this crowed. Ntuli has been around the mainstream corporate block for a while. He will be known to many for his role at the National Empowerment (NEF). He chaired the development finance institution’s board of trustees from the mid 2000’s and departed in 2011.
A law graduate from Edinburgh University, Ntuli’s primary business vehicle is Thelo Group, an independent investment company focused in the aviation, transportation and energy infrastructure sectors. He runs with the title founding chair of Thelo Group.
The Altron announcement said of Ntuli: “Prior to this role (at Thelo), Ronnie founded Andisa Capital in partnership with one of Africa’s largest banking groups (Standard Bank)”.
In addition to joining the Altron board, Ronnie is the Deputy Chairman of Comair Limited and was previously an independent non-executive director of Allied Technologies Limited”.
A qualified chartered accountant, Mabaso-Koyana is also a well-known heavy weight. She is Executive Chairperson of Advanced Capital, an investment company invested predominantly in mining and industrial services. She was previously Group Chief Financial Officer of Transnet and the Passenger Rail Agency of South Africa (PRASA).
The Altron announcement said of Ntuli: In 2004, Sindi was nominated as a finalist in the Business Woman of the Year Award and has been named as one of the country’s 20 most powerful business women by Financial Mail. Recently she was appointed by FIFA as the Deputy Chairman of its audit and compliance committee.