{"id":41811,"date":"2012-01-22T07:42:24","date_gmt":"2012-01-22T05:42:24","guid":{"rendered":"http:\/\/mybroadband.co.za\/news\/?p=41811"},"modified":"2012-01-23T10:59:33","modified_gmt":"2012-01-23T08:59:33","slug":"hedberg-had-the-wrong-mindset-for-altech-ceo","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/business\/41811-hedberg-had-the-wrong-mindset-for-altech-ceo.html","title":{"rendered":"Hedberg had the wrong mindset for Altech \u2013 CEO"},"content":{"rendered":"

Maker of TV set-top boxes, Allied Technologies\u2019 (Altech\u2019s)<\/a> CEO Craig Venter<\/a> told Moneyweb<\/em> that former Telkom<\/a> and Cell C<\/a> CEO Jeffrey Hedberg<\/a> resigned as chief operating officer (COO) of Altech because he underestimated the role.<\/p>\n

Hedberg resigned almost seven months into the job, after considering his options in December, says Venter.<\/p>\n

The news saw Altech\u2019s share price fall 5% on Friday.<\/p>\n

Hedberg reported directly to Venter and was responsible for the operational leadership of Altech\u2019s 33 operating companies.<\/p>\n

Venter told Moneyweb<\/em> that \u201cwe came to a mutual agreement after consultations with the board that he would leave\u201d.<\/p>\n

\u201cHe underestimated the role of COO, as he was use to a CEO role, without constraints having been in that position at Telkom and Cell C. He never had to respond to a CEO\u201d, adds Venter.<\/p>\n

He was use to an environment where he could operate with billions of taxpayers\u2019 money, this was not the case at Altech, says Venter.<\/p>\n

Cell C was unprofitable for years, this was not the same with Altech. You need to look at debtors, we don\u2019t have R26bn to invest, you need to count the cents, build shareholder value – it is a different mindset to what he was use to – he was use to being at the top, says Venter.<\/p>\n

Moneyweb<\/em> was told that Hedberg is unavailable for comment.<\/p>\n

Hedberg\u2019s responsibilities will be managed by Venter and divisional executives until a replacement is found.<\/p>\n

Venter said he will not rush the decision on who to appoint as COO, but was leaning towards an internal candidate.<\/p>\n

Hedberg has been in the ICT industry for more than 20 years, with experience and expertise that spans fixed and mobile telecommunications, mergers and acquisitions, international expansion and vendor engagement.<\/p>\n

Source: Moneyweb<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Altech CEO Craig Venter tells Moneyweb why Hedberg decided to quit. <\/p>\n","protected":false},"author":288414,"featured_media":41705,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[19],"tags":[1295,1299,35,4736],"class_list":["post-41811","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-altech","tag-craig-venter","tag-headline","tag-jeffrey-hedberg"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/41811"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/288414"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=41811"}],"version-history":[{"count":1,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/41811\/revisions"}],"predecessor-version":[{"id":41843,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/41811\/revisions\/41843"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/41705"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=41811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=41811"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=41811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}