The Safaricom PLC Board of Directors in a statement on Thursday said Ndegwa’s appointment will take effect from April 1, 2020.
Ndegwa joins Safaricom from Diageo PLC where he is the Managing Director of Diageo Continental Europe.
“Peter brings a wealth of experience in General Management, Commercial and Business Strategy, Sales and Finance Operations, having spent over 25 years in various roles within the Financial Services and Fast-Moving Consumer Goods (FMCG) sectors in Africa and Europe,” Safaricom said in a statement by Chairman Nicholas Ng’ang’a.
Ndegwa will take over from Michael Joseph who made a comeback in an acting capacity at the helm of East Africa’s largest telco in July following the death of Bob Collymore.
Collymore, passed away in June after battling cancer. The late Collymore had himself took over from Joseph as Safaricom CEO in November 2010.
Our Board of Directors have appointed Mr. Peter Ndegwa as our new Chief Executive Officer effective April 1, 2020. Click here to read more>>https://t.co/03owDEerS9 #SafaricomForYou pic.twitter.com/xcUS3Q4zNO
— Safaricom PLC (@SafaricomPLC) October 24, 2019
Safaricom is 35 per cent owned by South Africa’s Vodacom, the Kenya government has a 35 per cent stake, 25 per cent is traded at the Nairobi Securities Exchange while Vodafone Group has a five per cent stake.
The giant telco controls about 62% of Kenya’s mobile market with over 30 million subscribers.