JSE-listed Allied Technologies (Atlech) may be restructuring to better align its 36 operating entities in the future, incoming COO Jeffrey Hedberg has hinted.
Hedberg, who will take up his new position on 1 July, was addressing analysts at Altech's year-end results last week. Hedberg was Telkom's acting CEO until the end of last month, but will consult to the telco until the end of June.
Altech's appointment of Hedberg will aid the company to double revenue to around R20 billion in the next three to five years as the company will embark on an aggressive acquisitive strategy, says CEO Craig Venter.
However, Hedberg has hinted the company may be restructured. He says Altech needs to look at how its 36 operating entities are aligned with each other to ensure the company can react quickly to the changing environment.
Altech operates in the telecommunications, multimedia and information technology environments, and has a strong focus on convergence. Its subsidiaries include Altech Autopage, UEC and Netstar.
Hedberg says if the different subsidiaries are running independently of each other, then Altech can't drive convergence and benefit its clients. Hedberg will “listen and learn, engage and align” to bolster Altech's track record.
Hedberg says Altech's consistent record of financial performance, empowerment and staff training attracted him to the company. Altech has a “tradition of delivery that was very attractive when I joined”, he notes.
Altech is on the hunt for new companies to add to its stable. Venter says Altech is investigating several deals, of which one or two will be significant.
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