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Tuesday, Oct 15th

Safaricom's Bob Collymore steps down

Safaricom's Bob Collymore steps down

Safaricom's CEO Bob Collymore has taken leave on medical grounds and will be away from the company for an unspecified time.

A statement from the company said: "Safaricom today announces that its CEO Bob Collymore, has started medical leave to receive specialised treatment for a number of months. During this time, Sateesh Kamath, the current Chief Financial Officer for Safaricom who is also Mr. Collymore's alternate on the Board, will take a primary role."

The company says it has confidence in Kamath's 20 years' experience in mature and emerging markets.

He also has a background in strategic performance management and building robust operation across telecoms, FMCG and manufacturing.

Joseph Ogutu, current Director, Strategy and Innovation at the company, will support Kamath and will be in charge of the day-to-day operations.

"On behalf of the board, management and the entire Safaricom community, I wish Bob quick recovery and look forward to him resuming his duties as soon as doctors allow him to do so," said Nicholas Ng'ang'a, Safaricom chairman.

Bob Collymore joined Safaricom in 2010 taking over from pioneer CEO Michael Joseph and has steered the company in expanding products including the mobile money payment, M-Pesa.

In May this year, the company extended his contract for a further two years.

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