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Altron appoints group CFO, new chairman

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Nicholas Bofilatos has been appointed as Altron group CFO.
Nicholas Bofilatos has been appointed as Altron group CFO.

JSE-listed Altron has appointed Nicholas Bofilatos as group chief financial officer, with effect from today.

In a statement, the company says Bofilatos, who takes over from Cedric Miller, joined Altron in 2019 and was finance executive for change management.

It notes he has more than 15 years’ experience in finance leadership positions and was previously group CFO of Ctrack Holdings.

A Chartered Accountant by training, Bofilatos holds a Bachelor of Commerce degree from the University of Pretoria, as well as a Bachelor of Accounting Science (BCompt Hons) and Certificate in Theory of Accountancy from the University of South Africa.

“I am delighted to take over this role in a company with a rich history of innovation, and to be part of the team moving it forward into our Altron 2.0 strategy of tripling operating income, maintaining a net debt to Ebitda [earnings before interest, taxes, depreciation and amortisation] of less than one and becoming a responsible environmental, social and corporate governance company,” says Bofilatos.

At the same time, the board has appointed Stewart van Graan as chairman of Altron, following Mike Leeming’s retirement.

Stewart van Graan has been named as chairman of Altron.
Stewart van Graan has been named as chairman of Altron.

Van Graan has been an independent non-executive director of the Altron board since 2017 and currently chairs the Altron Social Ethics and Sustainability Committee. He is a member of Altron’s audit, risk and investment committees.

According to the company, Van Graan has a strong background in technology, with a focus on commercial success, and was formerly managing director of Dell South Africa and is former general manager of Dell’s business in Africa.

Prior to leaving Dell in April 2017, he was vice-president for the enterprise solutions business in the EMEA emerging markets.

He also previously served as chairperson of Dell in South Africa and the Dell Khulisa Academy, and served on the advisory board of the University of Stellenbosch Business School and on the board of non-profit organisation Christel House school in Cape Town.

“I am honoured by this appointment which comes at an exciting time. We believe technology will be at the centre of the world’s recovery and our Altron 2.0 strategy is geared to assisting our customers on their digital transformation journeys,” says Van Graan.

Prior to joining Dell, he spent 23 years at IBM in various positions, both locally and internationally. He currently serves as an independent non-executive director on the boards of Old Mutual and BankServAfrica. He also serves on the South African Revenue Services IT Advisory panel.

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