Safaricom (NSE: SCOM) has today announced the appointment of Sateesh Kamath as it’s Chief Financial Officer (CFO) and Executive Board Member of Safaricom Ltd., effective August 1st, 2016.
Mr. 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, Mr. 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, Mr. 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.
Mr. Kamath succeeds current CFO and Executive Director John Tombleson, who took up the position in 2011.
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.
During Mr. Tombleson’s tenure, he oversaw the company’s 16.3% compound Annual Revenue Growth, achieved Net Profit CAGR growth of 31.8%, and promoted Market Capital growth of 555% from US$1.1 billion to US$7.1 billion.
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.
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.
“Mr. Kamath will join the company to steer its next phase of development as we work towards becoming ensuring our business continues its sustainable growth,” said Bob Collymore, CEO, Safaricom.
“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. 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 Mr. Collymore.