Vodacom, Kenya deal on Safaricom CEO revealed
Nairobi, June 9 -- South Africa's Vodacom will determine Safaricom's next CEO if it acquires a majority stake in the telecom by purchasing the Kenyan Government's 15 percent stake, under an agreement that will make Safaricom a subsidiary of Vodafone Group.
Disclosures by Vodafone Group-Vodacom's parent company-show that Safaricom's board would be required to appoint the chief executive from a list of nominees provided by Vodafone Kenya Limited (VKL), potentially returning the era of expatriate CEO at the Kenyan telco.
Vodafone Group, which owns 65 percent of Vodacom, has committed to influence the pick of a chair who will be Kenyan.
This looks set to return a leadership structure that Safaricom held for years, to 2020, when the telco h...
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