This archive report was first published on 10 June 2020.
On June 10, 2020, Safaricom announced the promotion of its Chief Financial Officer (CFO), Sateesh Kamath, to the role of Chief Financial Officer Vodafone Business, effective July 1, 2020.
According to Safaricom's CEO, Peter Ndegwa, Kamath will be reporting into Vinod Kumar, Chief Executive Officer Vodafone Business, and will also become a member of Vodafone Group Finance Leadership Team.
Sateesh Kamath joined Safaricom PLC as CFO and Executive Director on the board on August 1, 2016, from Vodacom Tanzania Ltd, where he held a similar position.
During his four-year tenure at Safaricom, Kamath was credited with helping to build Safaricom shareholders' value by 50 percent to Sh1.2 trillion and improving business performance through Fit for Future Initiatives, adding 6 percentage points on EBIT margin.
He also played a key role in the completion of the acquisition of M-PESA Joint Venture from Vodafone and the purchase of critical spectrum while ensuring efficient use of company's funds.
Additionally, Kamath assumed broader responsibilities in navigating the company through the phase when Bob Collymore was on medical leave and through transitions thereafter.
"In his four-year tenure, Sateesh built a reputation as an outstanding finance expert in the region, a leader and a mentor, qualities that we at Safaricom have benefitted greatly from and we will deeply miss," the CEO said.
"We will announce his successor in due course," Ndegwa said.
