Safaricom moves to calm fears over Collymore’s exitMay 22, 2019
NAIROBI, Kenya, Apr 30 – Safaricom has moved to reassure stakeholders of stability ahead of Bob Collymore’s exit later this year.
The Reuters News Agency reported on Monday that Collymore who has been Chief Executive Officer of the telecom firm since 2010 will not seek the renewal of his two-year term set come to an end in August.
In a press statement issued by Safaricom’s Board Chairperson Nicholas Nganga, the company said a decision on Collymore’s successor had not yet been made.
“For clarity, the Board has in place a robust recruitment process that adheres to global best practice in identifying and appointing our senior leadership team,” Nganga said on Tuesday.
He however said the Board had in place a competitive recruitment process which it engages while identifying senior managers.
On Monday Reuters reported palpable tension at the firm with government, which holds a thirty-five per cent stake, said to be pushing for the appointment of a Kenyan to replace Collymore.
The Guyana-born Briton has been credited for most of Safaricom’s success with the share price rising 400 per cent during his tenure.