In a significant shakeup, Safaricom, Kenya’s largest telecommunications company, has announced the departure of two key members from its Board of Directors, Ory Okolloh and Francesco Bianco. The exits, confirmed after a comprehensive board meeting on July 24, 2024, mark a notable transition for the company.
The announcement of the board exits was made by Lisa Wambani, the acting company secretary for Safaricom. According to the statement, Ory Okolloh’s tenure concluded on July 24, 2024, while Francesco Bianco is set to leave on August 1, 2024. The decisions were reached following a thorough review and deliberation during the board meeting.
Safaricom expressed its deep gratitude to both Ory Okolloh and Francesco Bianco for their invaluable contributions. The telecommunications giant highlighted the robust input and strategic insights provided by the departing members, which have been instrumental in shaping the company’s direction and policies.
“The board takes this opportunity to thank Mr. Bianco and Ms. Okolloh for their invaluable and robust contributions in the committees and at board meetings during their tenure and wishes the two all the best in their future endeavors,” the company stated.
Ory Okolloh joined Safaricom’s board in February 2023 as an independent director. Her appointment came after the departure of Bitange Ndemo. Okolloh brought a wealth of experience to the board, drawing from her extensive background in technology, governance, and investment.
Francesco Bianco has been an integral part of Safaricom’s board for the past four years, having been appointed as an alternate director to Michael Joseph in January 2019. Throughout his tenure, Bianco has leveraged his extensive experience in the telecommunications sector to provide strategic guidance and oversight.
As a publicly listed company, Safaricom’s board changes were approved by the Capital Markets Authority (CMA), ensuring compliance with regulatory requirements. The company assured stakeholders that the process of appointing new board members is underway, with an official announcement expected in due course.
“The Board will announce their replacement in due course,” Safaricom confirmed, highlighting the ongoing efforts to ensure a smooth transition and continued strategic oversight.
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