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Robbie Venter new Altron CEO

Johannesburg - Allied Electronics Corp (Altron) said on Monday Robbie Venter would be its new chief executive officer, taking over the reins from his father, Altron founder Bill Venter.

The move is effective from March 1.

Analyst have long called for a restructuring of the electronics heavyweight, whose group companies include Fintech, Power Technologies, Allied Technologies and Usko.

Bill Venter remains chairman.

At a news conference Robbie Venter said Altron would stick to a path of simplifying the group's structure, which was likely to take another 12 to 18 months.

"In the longer term we would look for a simpler structure in terms of fewer listed companies," the new CEO said.

He said the group would continue to look for international acquisitions in Australasia, Iberia and other parts of Europe.

Acquisitions would be in the high-growth telecoms and IT industries.

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