New CFO appointed at Powertech

·4 Sep 2012

Power Technologies, a wholly owned subsidiary of the JSE listed Altron Group, has appointed Sean Hemphill as its new chief financial officer, with effect from 1 September 2012.

Hemphill succeeds Neil Kayton, who was promoted to Powertech CEO on 1 July 2012. Kayton recently replaced Neil Claussen who resigned from the Altron group.

Hemphill is a qualified chartered accountant having completed his articles at PricewaterhouseCoopers in 2004. He joined the Powertech Group as project accountant for Aberdare Cables in 2003.

In 2007, Hemphill joined the finance team at Powertech head office as group financial controller. He was instrumental in successfully imbedding the group’s consolidation system and processes and has valuable experience with regards to restructuring, mergers and acquisitions.

“In this capacity, he has also played a key role in developing Powertech Shared Services, in particular the group-wide payroll services,” Altron said in a statement.

Towards the end of 2011 Hemphill moved to the newly established Powertech Africa division, in the position of CFO.

He assisted in setting up this export division, specifically regarding all financial aspects and related operating systems, including dealings with international financial institutions, Altron said.

Neil Kayton, CEO Powertech said: “Sean’s broad based experience in many areas of the Powertech business made him an ideal candidate for this position.”

Shares in Altron declined 50 cents or 2.13% to R23.00 in mid morning trade on the JSE.