Kenyan telecommunications giant company, Safaricom, has reacted to media reports alleging a tussle over the replacement of its CEO Bob Collymore.
Safaricom releases statement after reports of infighting over Bob Collymore successor
Here is what will happen
Reuters, among other media outlets, on Monday reported that Collymore would exit Safaricom in August when his current contract will expire.
The current CEO was reported not to be keen on extending his contract on health grounds.
Reuters quoted sources indicating that the government of Kenya had insisted the new CEO should be a Kenyan - an issued that had caused division and delayed announcement of a replacement.
On Wednesday, Safaricom neither confirmed nor denied the claim of government insisting on a Kenyan replacement.
In a statement signed by board Chairman Nicholas Nganga, Safaricom committed to observing the best hiring practices when hiring the next CEO.
The company also assured Kenyans that Collymore was in good health and would steer the company until a decision was made on a new CEO.
“For clarity, the Board has in place a robust recruitment process that adheres to global best practice in identifying and appointing our senior leadership team," the statement read in part.
Safaricom ownership gives Vodafone, a British multinational the upper hand as it has a 40 percent stake.
The government of Kenya has 35 percent ownership while members of the public have a 25 percent stake which are traded at the Nairobi Stock Exchange (NSE).
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