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ICANN President & CEO Resigns to Join the Private Sector

The  Internet Corporation for Assigned Names and Numbers (ICANN) today announced that President and CEO Fadi Chehadé has informed the Board he will be concluding his tenure in March 2016 to move into a new career in the private sector (outside the Domain Name Industry).

End of an era as Craig Venter steps down

Craig Venter leaves a decidedly mixed legacy as he steps down from his leadership responsibilities in Altron and Altech.

Craig Venter, the 52-year-old son of Altron founder Bill Venter, has quit the group after 27 years of service.

The move was not entirely unexpected after Altron last week announced it would transition to an independent management structure and away from being a family-run business.

But the timing may surprise many, coming so soon after last week’s announcement.

Venter is group executive of Altron TMT, which houses the group’s technology businesses Altech and Bytes.

Altron has described Venter’s decision to quit as the start of its transition to an “independent management structure”.

The move is also likely to pave the way for the exit of Venter’s brother, Robbie, 55, who is group CEO, at some point in coming months or years. Robbie’s family lives abroad, and it’s understood he’s keen to spend more time with them.

Craig Venter will step down as group executive of Altron TMT and as CEO of Altech. He will also relinquish all of his Altron directorships effective 31 July 2015.

Altron emphasised that the Venter family will remain a “committed shareholder” and will keep its 56% shareholding.

Venter will continue to be involved in the business, but will play more of an oversight role for the family’s investments rather than being operationally involved. This is in line with remarks he made to TechCentral last week.

“I have dedicated my life to this business and I will remain involved in the business as part of the Venter family, to ensure the continued success of my father’s legacy. My experience, relationships and guidance will not be lost to the group,” he said in a statement.

Venter leaves a decidedly mixed legacy at Altech.

He led an aborted telecommunications investment strategy in East Africa that cost the Altron group dearly.

More recently, the launch of the Altech Node — a home entertainment and automation set-top box — has proved to be a flop after the group invested tens of millions of rand in its development. Altron has said it remains committed to the Node’s development.

Despite the challenges, the broader Altron TMT — which houses the strongly performing Bytes IT business — continues to be the biggest contributor to the group’s revenue and operating profit.

In the statement, Robbie Venter says: “The Venter family and the Altron board are pleased to acknowledge Craig’s significant contribution to the group during the past 27 years.

“He has dedicated most of his life to the quest of growing Altron, through Altech and Altron TMT, to the company it is today and we thank him for his leadership and loyalty over this time.”
Source: Techcentral 21 May 2015