BEE a top priority for Altron’s subsidiaries
In a move that would place the black economic empowerment credentials of Altron’s subsidiaries — Altech, Bytes and Powertech — under public scrutiny, the group yesterday launched its own five-year transformation programme.
In terms of the Transformation Vision 2012 strategy document, Altron would set targets for its subsidiaries to enable them to become “superior contributors” to black economic empowerment by 2012, said Altron corporate affairs executive Onkgopotse JJ Tabane.
The programme was a modified version of Altron’s erstwhile Vision 2010, and was aligned to the trade and industry department’s codes of good practice. It would address ownership, board and management control, employment equity skills development, preferential procurement, enterprise development and corporate social investment.
Altron CE Robbie Venter said the group’s subsidiaries were at different levels of transformation, with Bytes ahead of the others.
Tabane, who leads Altron’s transformation committee, said the programme would link the business performance of senior executives with the achievement of transformation goals. “As of the current financial year, a portion of the bonus of managers will be linked to targets set for each of the 100 operations of the Altron group,” he said.
Altron would review progress with an annual evaluation by empowerment ratings company Empowerdex, he said.
In his comments in the transformation document, Craig Venter, CEO of Altron’s biggest subsidiary Altech, said the high-technology company’s target for black board members was 40% by 2012.
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