The Board of Safaricom Plc has announced the appointment of investment banker John Ngumi as a director and Chairman of the Board with effect from August 1, 2022.
He will take over from founder Chief Executive Officer (CEO) Michael Joseph who has chaired the board since August 2020.
The telco said the appointment is subject to regulatory approval.
“Ngumi currently serves as Board Chair at the Industrial & Commercial Development Corporation (ICDC), which is leading the effort to implement the Kenya Transport & 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.
Ngumi has chaired the Board of Konza Technopolis Development Authority.
He served as an inaugural director on the Board of Communications Commission of Kenya, now Communications Authority of Kenya, a regulator that oversaw the creation of Kenya’s present telecommunications landscape.
Ngumi started his banking career at National Westminister Bank, London and has worked for various institutions including Grindlays Bank, Citibank, Barclays Bank and Standard Bank of South Africa establishing himself as East Africa’s foremost corporate and investment banker.
The company also announced the resignation of Secretary Mdlalose Sitholizwe.
“With effect from August 1, 2022. We take this opportunity to thank Sitho for his service, dedication, sound advice and commitment to the company with Particular reference to his invaluable contribution at the board audit, risk and compliance committee. The board wishes him the very best in the future,” Safaricom said.