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Altron Board and Committee Composition
ALLIED ELECTRONICS CORPORATION LIMITED
(Registration number 1947/024583/06)
(Incorporated in the Republic of South Africa)
Share code: AEL ISIN: ZAE000191342
(“Altron” or “Group” or “the Company”)
ALTRON BOARD AND COMMITTEE COMPOSITION
Appointment of a Chairman
Following the retirement of Altron’s long-standing Chairman, Mr. Mike Leeming at the Annual General
Meeting held on 28 July 2021, the Board is pleased to announce the appointment of Mr. Stewart van
Graan as Chairman of the Altron Board effective from 28 July 2021.
Mr. van Graan, who has a strong background in technology with a focus on commercial success, has
been an independent non-executive director of the Altron Board from 2017 and currently chairs the
Altron Social Ethics and Sustainability Committee and is a member of the Altron Audit Committee, the
Altron Risk Committee and Altron Investment Committee. Mr. van Graan was formerly the Managing
Director of Dell South Africa and is the former General Manager of Dell’s business in Africa. Prior to
leaving Dell in April 2017, he was the Vice President for the Enterprise Solutions business in the EMEA
Emerging Markets. He also previously served as the chairperson of Dell in South Africa and the Dell
Khulisa Academy. He also served on the advisory board of the University of Stellenbosch Business
School and on the board of Christel House school (NPO) in Cape Town. Prior to joining Dell, he spent
23 years at IBM in various positions, both locally and internationally. Mr. van Graan currently serves
as an independent non-executive director on the following boards: Old Mutual Limited and
BankServAfrica. He also serves on the South African Revenue Services IT Advisory panel.
Mr. van Graan will resign as member of Altron’s Audit Committee effective from close of business on
28 July 2021 and will assume the role of Chairman of Altron’s Nomination Committee effective from
28 July 2021. Mr. van Graan will continue to chair Altron’s Social Ethics and Sustainability Committee
until such time as the Board has appointed a successor to the role in accordance with its succession
plans.
Following the re-election of audit committee members at the Annual General Meeting held on
28 July 2021, the composition of Altron’s Audit Committee shall be comprised as follows:
Mr. Grant Gelink (chairman);
Ms. Berenice Francis (member); and
Ms. Alupheli Sithebe (member).
Appointment of a Chief Financial Officer and Executive Director
Following the announcement published on 31 May 2021, the Board is pleased to announce the
appointment of Mr. Nicholas Bofilatos (39) will assume the role of Altron’s Chief Financial Officer,
executive director of the Altron Board and member of the Altron Risk Management Committee
effective from 29 July 2021.
Mr. Bofilatos has held various positions within the Altron Group from 2019 with his most recent
position held as the Finance Executive: Change Management for the Altron Group, Head of Central
Finance. His prior positions include: CFO; FD and Company Secretary for Ctrack Holdings (Pty) Limited
(Previously Digicore Holdings Limited) and; Senior Manager: Assurance at Ernst & Young. Mr. Bofilatos
has over 15 years’ experience in finance leadership positions. Mr. Bofilatos holds a BCom from the
University of Pretoria; BCompt Hons and Certificate in Theory of Accountancy from UNISA and he is a
Chartered Accountant.
Confirmation of Independent Non-Executive Director Appointment
Following the election of Ms. Alupheli Sithebe as a non-executive director at the Company’s Annual
General Meeting held on 28 July 2021 and following the announcement published on 18 June 2021,
the Board are pleased to confirm the appointment of Ms. Sithebe as a non-executive director of the
Board and member of the Altron Audit Committee.
The Board has satisfied itself that the above appointments are reflective of the Board’s diversity
policies and in line with succession planning. The respective appointments reflect the spirit and nature
of King IV.
Johannesburg
29 July 2021
Sponsor: Investec Bank Limited
Date: 29-07-2021 07:30:00
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