Collymore gets two year extension as Safaricom CEO

Collymore gets two year extension as Safaricom CEO
Safari com CEO Bob Collymore, Chairman during full year results release

Listed telecom operator Safaricom has extended the tenure of its chief executive officer Bob Collymore by two years.

The move by the Safaricom board will see Mr Collymore serve well into 2019.

This is the second term extension the board has made for its CEO after initially extending his term in 2015 to August this year.

Making the announcement, Safaricom chairman Nicholas Ng’ang’a said the contract extension will enable the telecom navigate possible regulatory changes as well as lead the business’ growth.

“The board has decided to extend Bob Collymore’s contract for another 2 years,” Mr Ng’ang’a said during the release of the Safaricom’s full year results.

In the full year ended March 31, Safaricom announced an 18.3 percent growth in net income to Sh45.1 billion.

Growth during the period was driven by growth in revenues especially from M-Pesa which stood at Sh55 billion.

The board has recommended a dividend of 97 cents per share.

More to follow……………

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