NOT YET THERE

No decision made on Collymore's exit - Safaricom

In Summary

• Reuters had reported that Collymore plans to step down in August.

• Ng'anga said the Board has in place a robust recruitment process.

safaricom CFO Sateesh Kamath with CEO Bob Collymore during Safaricom release of half year result in Nairobi on November 2,2018. Photo/Enos Teche.
safaricom CFO Sateesh Kamath with CEO Bob Collymore during Safaricom release of half year result in Nairobi on November 2,2018. Photo/Enos Teche.

Safaricom PLC Board has not made a decision on Bob Collymore's replacement, Chairman Nicholas Nganga has said.

"This will be subject of deliberation by the Board and once a decision is made it will be communicated at the appropriate time," he said in a statement on Tuesday.

Reuters had reported that Collymore plans to step down in August for health reasons, but the government’s insistence he should be succeeded by a Kenyan has delayed announcing a replacement.

Quoting sources, Reuters said the CEO wants to concentrate on his health so he did not wish to renew his contract.

But Ng'anga said the Board has in place a robust recruitment process that adheres to global best practice in identifying and appointing our senior leadership team.

"I am happy to report that the Board is encouraged by the quick recovery of Bob Collymore who remains firmly in charge," he added.

The Telco is set to announce its financial results for the year ended March 31, 2018, on Friday.

Last year, its net profit grew to Sh55.3 billion, compared to Sh48.4 billion the year before on the back of M-Pesa and data revenues.