NAIROBI, Kenya, Jul 1 – Safaricom Chief Finance Officer John Tombleson has exited the company after the end of his five year term.
The firm has appointed Sateesh Kamath as its Chief Financial Officer (CFO) and Executive Board Member of Safaricom Limited effective August 1, 2016.
Tombleson will be returning 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.
Tombleson had replaced Chris Tiffin in 2011 who stepped down after being at the helm for three years.
Prior to this position he had worked at Vodafone Qatar as CFO for four years.
During Tombleson’s tenure, he oversaw the company’s 16.3 percent compound Annual Revenue Growth, achieved Net Profit CAGR growth of 31.8 per cent, and promoted Market Capital growth of 555 percent from US$1.1 billion (Sh111 billion) to US$7.1 billion (Sh711 billion).
“As 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. As a seasoned financial executive, Mr Tombleson leaves the company having steered the company through its most robust and fruitful years. He has been an invaluable resource to the executive team,” said Safaricom Chief Executive Bob Collymore.
Kamath joins Safaricom from Vodacom Tanzania Ltd, where he was the Chief Financial Officer and Executive Director on the Board of Vodacom Tanzania.
With over 19 years experience in both mature and emerging markets across Asia, Europe and Africa, Kamath has a strong background in strategic performance management and building robust operations across the telecoms, FMCG and manufacturing sectors.
Prior to his former position at Vodacom Kamath has held senior roles for the last 12 years at both 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.
“Kamath will join the company to steer its next phase of development as we work towards becoming ensuring our business continues its sustainable growth,” Collymore said.