Safaricom have announced that CFO Sateesh Kamath will be leaving the company. His new venture is a similar role for Vodafone Business that will start in July 1, 2020.
In a statement, Safaricom’s CEO Peter Ndegwa says Kamath will now report to Vinod Kumar, Chief Executive Officer Vodafone Business. He will also become a member of Vodafone Group Finance Leadership Team.
Safaricom has not made any announcement about his replacement. The operator says this will be done in due course.
Sateesh joined the telco as as CO and Executive Director on the Board back in August 2016 from Vodacom Tanzania Ltd, where he held a similar position.
According to Ndegwa, Kamath holds an array of achievements, helping to build Safaricom shareholders’ value by 50pc to Sh1.2 trillion and improving business performance through Fit for Future Initiatives adding 6pc points on EBIT margin.
He has also served at the helm as interim CEO when former and late CEO Bob Collymore was away on medical leave.
“In his four-year tenure, Sateesh built a reputation as an outstanding finance expert in the region, a leader and a mentor, qualities that we at Safaricom have benefitted greatly from and we will deeply miss. He will leave behind a very strong team,” Safaricom said in the statement.
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