Safaricom CEO Bob Collymore will stay in that role for a year longer than was previously planned after the company’s board extended his contract through August 2020. The listed firm said the extension will compensate for the time he was away on medical leave.
Collymore, who took over as the telco’s CEO in 2010, had previously been set to step down in August this year and the company has been actively searching for his heir apparent.
The company has struggled to find an acceptable successor to take over the reins at Kenya’s most profitable firm after a successful nine-year run at the helm for Bob.
It was reported a few weeks ago that Safaricom’s board had interviewed several candidates including a Banking executive and finally picked a foreigner to head the Telco. However, the government opposed the decision citing an earlier agreement between Safaricom and its shareholders to have a Kenyan succeed Mr. Collymore.
