Safaricom names new finance boss

Safaricom Chief Financial Officer Sateesh Kamath

Safaricom has appointed Sateesh Kamath as its new Chief Financial Officer from August 2016. Mr Kamath, who will also be an executive board member of the mobile company, served under a similar position at Vodacom Tanzania.

“Mr Kamath will join the company to steer its next phase of development as we work towards ensuring our business continues its sustainable growth,” Safaricom Chief Executive Bob Collymore said in a statement.

Kamath, an Indian, boasts over 19 years experience in mature and emerging markets across Asia, Europe and Africa. “Mr Kamath has a strong background in strategic performance management and building robust operations across the telecoms, FMCG and manufacturing sectors,” Safaricom said in a statement to newsrooms yesterday.

Prior to his former position at Vodacom, Mr Kamath has held senior roles for the last 12 years at a global and local level for Vodafone operations in London, Australia, New Zealand, Turkey and Fiji.

He is also non-executive director in other group companies and investments. Mr Kamath takes up from John Tombleson as the second most powerful man at Safaricom after Mr Collymore. Tombleson was appointed as the firm’s Chief Financial Officer in 2011.

Profit warnings

“As Mr Tombleson comes to the end of his five year term, he will be returning home to Vodafone New Zealand to take up a new opportunity as the Integration Director of the recently announced merger between Vodafone New Zealand and Sky New Zealand,” the statement adds.

“A senior Vodafone resource, Mr Tombleson joined Safaricom from Vodafone Qatar, where he held the position of Acting Chief Executive Officer and Chief Financial Officer.”

Last year the firm defied a turbulent economic period that saw at least 18 companies on the securities exchange issue profit warnings to grow its profit by 19.5 per cent. It made Sh31.8 billion in a similar period the previous year.

Mr Tombleson first joined Vodafone in his home country of New Zealand in 2003 and has since held progressively senior financial roles in both mobile and fixed telecommunications operations.

British telecoms operator Vodafone, which owns a 40 per cent stake in Safaricom, has a say on the appointment of the firm’s chief executive and finance bosses. Tombleson, replaced Christopher Tiffin, who served as CFO for three years beginning August 2008.

Les Baillie, another executive seconded from Vodafone, was Safaricom’s CFO for nearly a decade until Mr Tiffin took over from him in 2008.

“As Mr Tombleson’s tenure comes to its close, we are pleased that he will leave the company to return to his home town leaving behind a strengthened investor relations portfolio and strong relationships with our shareholders,” said Mr Collymore.