Bob Collymore to stay on as Safaricom CEO till 2020
Collymore had apparently planned to step down in August for health reasons, but the state’s insistence that he be succeeded by a Kenyan has delayed this
Nairobi — The CEO of Safaricom, Bob Collymore, says he will stay on in his role for an extra year at Kenya's biggest telecoms operator. "I'm here until the year 2020," Collymore told reporters on the sidelines of a meeting on Thursday. He was due to step down in August. "I kind of owed the company … and the board and I agreed we will stretch that for a year." Two company sources said late in April that Collymore had planned to step down in August for health reasons, but the government's insistence he should be succeeded by a Kenyan had delayed the announcement of a replacement. Collymore has helped to build Safaricom into East Africa's most profitable company, thanks to the popular mobile money transfer service M-Pesa and a growing customer base. Safaricom is 35% owned by Vodacom and controls about 62% of Kenya's mobile market, with more than 30-million subscribers. Britain's Vodafone has a 5% stake and the Kenyan government 35%. Safaricom's core earnings for the financial year that...
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