Tanzania Vodacom CFO to replace Safaricom's finance chief

What you need to know:

  • Safaricom did not disclose the reasons behind Mr Tombleson’s exit.

Safaricom has announced the appointment of Govinder Sateesh Kamath as chief finance officer effective August 1.

Mr Kamath has been serving in a similar capacity at Vodacom Tanzania and will replace John Tombleson who has been Safaricom’s finance chief for five years since November 2011.

“Mr Kamath will join the company to steer its next phase of development as we work towards ensuring our business continues its sustainable growth,” said Bob Collymore, Safaricom CEO.

The company added that the new CFO “has over 19 years’ experience in both mature and emerging markets across Asia, Europe and Africa.”

He has held senior roles for the past 12 years at both a global and local level for Vodafone operations in London, Australia, New Zealand, Turkey and Fiji.

Safaricom said Mr Tombleson 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 per cent compound annual revenue growth, achieved net profit compounded annual growth rate of 31.8 per cent, and promoted market capital growth of 555 per cent from $1.1 billion to $7.1 billion,” said the telecommunications firm in a statement.

Mr Tombleson joined Safaricom from Vodafone Qatar, where he held the position of acting chief executive officer and chief financial officer.

He first joined Vodafone in his home country of New Zealand in 2003.

A draft forensic audit report by accounting firm KPMG named Mr Tombleson, alongside four other senior executives as having unprocedurally influenced the purchase of a Sh1.15 billion five-acre piece of land at Nairobi’s Garden City where Safaricom plans to build its headquarters.

Mr Collymore has however said the finance chief’s exit is not related to the draft report by KPMG.