Michael Joseph has been appointed the new Safaricom Board Chairman following the retirement of Nicholas Nganga. In a press statement Thursday, Safaricom CEO Peter Ndegwa said the appointment of Mr. Joseph takes effect starting August 1, 2020. Mr Joseph who is also the Kenya Airways chairman, is a former Safaricom CEO.
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Mr Joseph joined the Safaricom board on September 8, 2008. After exiting as CEO, he was employed by Vodafone Group Services Limited as Director of Mobile Money.
Mr Joseph, who is also the current chairman of Kenya Airways’ board, is also Vodafone’s Strategic Advisor, appointed to the Boards of Vodacom Group South Africa, Vodacom Tanzania and Vodacom Mozambique.
He was the first Safaricom CEO from July 2000 when the company was re-launched as a joint venture between Vodafone UK and Telkom Kenya until his retirement in November 2010. But he would come back as a caretaker CEO after the death of Bob Collymore last year as the firm looked for a new boss.
During his tenure, Mr Joseph steered the company from a subscriber base of less than 20,000 to over 16.71 million subscribers.
In addition, he has extensive international experience in company start-ups, the implementation and operation of large wireless and wire-line networks, including operations in Hungary, Spain, Brazil, Peru, Argentina, Korea, the USA, Australia and the Middle East.
On his part, Mr Ng’ang’a joined the Safaricom board on May 6, 2004 and was elected Chairman on January 16, 2007. It was under his leadership that Safaricom has grown to become east Africa’s most profitable company, with annual revenues in excess of Sh200 billion.
Mr Ng’ang’a, a brilliant boardroom titan, holds a BA degree from Makerere University and served as the Permanent Secretary for the Ministries of Finance, Foreign Affairs and Health.
As chairman, he has helped Safaricom navigate political and regulatory challenges with the most recent being the dominance debate.
“He has steered the company through various milestones over the 13 years he was at the helm. During his tenure as chairman. Mr Nganga has been instrumental for the monumental growth that the telco has experienced,” Mr Ndegwa said.
Mr Ng’ang’a took up the leadership reins at a time when the government was starting the process of offering 25 percent of its shares to the public through the Nairobi Securities Exchange in 2008.
Safaricom says he has managed to grow shareholder value by 607 percent since listing.
Safaricom’s market capitalisation, at Sh1.075 trillion, is worth 50 percent of all the listed firms on the NSE.
Michael Joseph has been appointed as the Chairman of Safaricom. This is after serving 2 times as the company’s CEO. No one knows Safcom better than MJ; Michael Joseph is Safaricom and Safaricom is Michael Joseph. They are indispensable from each other.
Are you also indispensable from your company?
Make yourself indispensable. By acquiring more knowledge and experience, be the guy everyone runs to for solutions. Although no one is greater than the company, you can make yourself be the guy that the company can’t do without; The guy that the company can’t replace easily.
If you are a cook, master the art in a way no one can prepare meals like you do. If you are a driver, be so good in your art that the company can’t simply think of a replacement without fearing the health of the vehicles. If you are a journalist be the guy whose stories make people to buy the newspaper. If you are a carpenter, let your output be incomparable. Fortune tend to follow those whose have mastered their skills.
~ shared on Facebook by Hon. Hussein Shaabal.