Former Safaricom CEO Michael Joseph becomes the new Board Chairman of the same company he headed over the years.This is after the retirement of Nicholas Nganga.
In a press statement released on Thursday, Safaricom CEO Peter Ndegwa said the appointment of Mr. Joseph takes effect starting August 1, 2020.Mr. Joseph has served as a non executive Board member since 2008
“Michael takes over from Mr. Nicholas Nganga who has been the chairman of the Board since 2007. Mr. 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,” Mr. Ndegwa said.
“Mr. Nganga managed to grow Safaricom’s shareholder value by 607% since listing and the money transfer service M-Pesa has been recognized as one of the top 10 most influential finance projects of the last 50 years,” Mr. Ndegwa added.