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Editor’s update

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Dear reader

Craig Venter was in the headlines this week following the news that he will resign as CEO of Altron TMT and as an Altron director, effective 31 July 2015. After posting poor results this year, Altron unveiled a new group strategy in which it announced that it will transition from a family managed business to an independent management structure. Despite this, the Venter family will retain its 56% shareholding in the company.

Also in the news this week was the view that South Africa’s new visa rules could impact on the tourism and hospitality industry. South Africa’s hospitality industry is prepared to grow further in the next five years, with most growth in the sector expected to be generated in Cape Town, according to PwC, and changes to the visa laws could have a negative impact. Meanwhile, the amended Broad-based Black Economic Empower (B-BBEE) Act of 2013 could potentially wipe out more than R20-billion in direct skills development and training investments and cost black South Africans many thousands of job opportunities.

And finally, a survey conducted by South African search firm Jack Hammer Executive Headhunters found that almost 90% of HR managers say candidates would have to provide a very good explanation for repeated instances of short tenure at the companies they worked for. Despite the notion of loyalty to a company having changed, 89% of hiring managers polled in a recent survey say that perceived job-hopping will hurt a candidate’s chances of landing a position.

Until next week,

The IT-Online team