Former Safaricom Chief Executive Officer Michael Joseph has been appointed Chairperson of the giant telecommunication company’s board following the retirement of Nicholas Nganga.
In a press statement released on Thursday, Safaricom CEO Peter Ndegwa said the appointment of Mr Joseph takes effect on August 1, 2020.
Mr Nganga has been the chairman of the board since 2007.
Nganga joined the Board in May 2004 and was elected Chairman in January 2007.
“He has steered the company through various milestones over the 13 years he was at the helm. During his tenure as chairman. Mr Nganga has been instrumental for the monumental growth that the telco has experienced, ” the CEO said.
Mr Joseph has served as non-executive board member since September 2008.
According to the CEO, He brings a wealth of skills and industry knowledge given his contribution to the growth of Safaricom from very humble beginnings to becoming one of the most innovative, influential and profitable companies in the East African region.
Mr Joseph is among others expected to improve customer sentiment, greater brand consideration and to bolster our digital transformation agenda.
Mr Joseph, who held brief as acting CEO after Bob Collymore’s death in 2019, takes over from a man credited for growing shareholder value by 607% since listing having assumed office at a time when the government was starting the process of offering 25% of its shares to the public through the Nairobi Securities Exchange in 2008.
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“At the time of his appointment as Chairman, Safaricom had slightly over 6 million customers, 1,000 employees and only 8 Safaricom shops across the country. Mr. Nganga retires from the telco that now serves over 35.6 million customers, across 50 shops and hundreds of service desks across the country, with a staff force of over 6,500 employees, ” said Mr Ndegwa.
Under Nganga’s leadership, Mr Ndegwa said, mobile money transfer service, M-Pesa, has been recognized as one of the top 10 most influential finance projects of the last 50 years.
“Mr Nganga has led the organization in line with its purpose to ‘Transform Lives’. Together with the Board, he was instrumental in helping the quick adoption of this purpose across all of Safaricom, ” the CEO said.