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HomeAll newsMost read newsBusiness Leaders Biography
Age : 73
Country of residence : Unknown
Linked companies : Safaricom PLC - Kenya Airways Plc
Biography : Mr. Michael Joseph is an Independent Non-Executive Director at MFS Africa Ltd., a Non-Executive Chai

Kenyan telecoms operator Safaricom picks ex-CEO Joseph as chairman

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07/30/2020 | 01:06am EDT
Safaricom CEO Joseph speaks during a Reuters interview in his office at their headquarters in Nairobi

Kenya's biggest telecoms operator Safaricom has chosen its former chief executive, Michael Joseph, as board chairman, it said on Thursday.

He replaces the long-serving Nicholas Ng'ang'a, who has retired.

The move is part of a shareholder deal reached last year.

Under it the government, which holds a 35% stake in the company, won the right to pick a Kenyan as CEO, while the other major shareholder, Vodacom, got to pick the chairman, sources told Reuters last year. Vodacom is part of Britain's Vodafone Group.

Peter Ndegwa, a Kenyan national, took over as chief executive in April, joining from Diageo, where he was the managing director of continental Europe.

Joseph, a dual American-Kenyan national, was Safaricom CEO until 2010 and has been a board member of the company since then. Ng'ang'a had been chairman since 2007.

(Reporting by Duncan Miriri; editing by John Stonestreet)

Stocks mentioned in the article
ChangeLast1st jan.
DIAGEO PLC 1.13% 2598.5 Delayed Quote.-19.76%
SAFARICOM PLC -0.72% 27.5 End-of-day quote.-12.70%
VODACOM GROUP LIMITED 0.26% 129.65 End-of-day quote.12.45%
VODAFONE GROUP PLC 2.02% 119.031 Delayed Quote.-20.54%
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