The Board of Safaricom Plc has announced the appointment of investment banker Mr John Ngumi as a director and Chairman of the Board with effect from 1st August 2022.
Mr Ngumi takes over from Safaricom founder CEO Michael Joseph who has chaired the board since August 2020. His appointment is subject to regulatory approval.
We’re delighted to announce John Ngumi as Director and Chairman of our Board of Directors effective August 1, 2022. We are excited to have John on board, as we carry on our commitment to transform lives and go beyond to meet our customers’ needs. pic.twitter.com/xvLqteMgGO
— Safaricom PLC (@SafaricomPLC) July 29, 2022
John Ngumi is the immediate former Chairman of the Kenya Pipeline Corporation Board and has chaired the Konza Technopolis Development Authority Board.
He served as an inaugural director on the Board of Communications Commission of Kenya, now the Communications Authority of Kenya, a regulator that oversaw the creation of Kenya’s present telecommunications landscape.
“Mr Ngumi currently serves as Board Chair at the Industrial and Commercial Development Corporation (ICDC), which is leading the effort to implement the Kenya Transport and Logistics Network, encompassing Kenya Ports Authority, Kenya Pipeline Company Limited and Kenya Railways Corporation. He also serves on the board of Kenya Airways PLC,” reads a notice from Safaricom to shareholder.
Michael Joseph said Mr John Ngumi will replace him as one of the Director’s representing the Government of Kenya on the Board of Safaricom.
“John was appointed as a Director of Safaricom and elected Chairman of the Board at a Safaricom Board meeting held on July 28th, 2022,” said Mr Michael Joseph during the telco’s Annual General Meeting.
Micheal Joseph, I decided to step down:
1. To devote more time to @KenyaAirways
2. To devote more time to the expansion of @SafaricomET
3. To play a role in the creation of a PanAfrican airline.
“The time is right for me to step down as chairman.” https://t.co/OniLFjM9Yg https://t.co/tDHip4HvO0 pic.twitter.com/34B3GKziF9— Indeje ?? (@David_Indeje) July 29, 2022
“Prior to making this decision, I consulted widely, including discussions with our main shareholders, the Government of Kenya, Vodacom and Vodafone, the Board and of course with Peter Ndegwa, our CEO,” Michael Joseph told shareholders.
Michael said he would like to focus more on supporting Safaricom’s expansion into Ethiopia and devote more time to restructuring Kenya Airways.
“It is also important that I continue to play a role in the creation of the Pan African Airline group, which is important for the African continent to ensure connectivity as well a reliable and affordable air transport.”
He said he will remain as a Director on the Board of Safaricom, subject to approval, for the next few years to continue “advising and supporting the company generally through this transition, and support the Board to drive the company’s strategic agenda as well as to provide continuity and transition guidance to our new chairman.”
Michael Joseph Re-elected Kenya Airways Board Chair for 3rd Term
