Former Safaricom CEO Michael Joseph Exits Telco as Board Chair

John Ngumi is the new Board Chair

Safaricom has been making a lot of changes to its management team lately.

The majority of its chief executive members have since left the company, as highlighted in the tweet stream below.

These changes have been notable ever since the telco got a new CEO, following the passing of former CEO Bob Collymore.

Now, the company has a new Board Director in the name of John Ngumi.

Mr. Ngumi has also been appointed as the new Board Chair. He replaces Michael Joseph, the corporation’s first CEO.

Michael’s tenure as CEO started back in 2000. He was instrumental in launching key products such as M-PESA back in 2007. He, however, left the company in 2010 and was replaced by Bob Collymore.

Bob would push the company to greater heights, with many achievements associated with M-PESA.

After his passing in 2019, he was replaced, albeit temporarily, by Mr. Joseph.

A couple of months later, Peter Ndegwa came in as CEO. After leaving the acting CEO role, Michael Joseph stuck with the company as Board Chair following the retirement of Nicholas Ng’ang’a.

Here is the official statement from Safaricom:

The Board is pleased to announce the appointment of Mr. John Ngumi as a Director in Safaricom PLC with effect from 1st August 2022. The appointment is subject to regulatory approval. Mr. Ngumi has also been appointed as the Chairman of the Board with effect from 1st August 2022.

Mr. Ngumi is one of Kenya’s most celebrated bankers. During a 35-year banking career, he established himself as East Africa’s foremost corporate and investment banker, working with local and international/ global corporates that have an East African regional presence, state-owned enterprises, sovereigns, and financial services, groups.

He is a seasoned director having drawn his experience in both private companies and state-owned enterprises. For the latter, he is best known as the inaugural Board Chair at Konza Technopolis Development Authority and as an extremely active and effective Board Chair at Kenya Pipeline Company Limited.

Mr. Ngumi currently serves as Board Chair at the Industrial & Commercial Development Corporation (ICDC), which is leading the effort to implement the Kenya Transport & Logistics Network, encompassing Kenya Ports Authority, Kenya Pipeline Company Limited, and Kenya Railways Corporation. He also serves on the board of Kenya Airways PLC.


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