Safaricom has announced the appointment of ex-CEO Michael Joseph as the new chairman of the board after the exit of the current chairman, Nicholas Nganga.

The company would not provide more detail on Nganga’s departure, and said only that he has retired from his position.

Joseph, who served as CEO until 2010 when Bob Collymore took over, took the helm as acting CEO following the passing of Collymore.

“It is an honor to serve as the next Chairman of a company that I am passionate about and have been involved with ever since its inception. It is with humility that I take over from Mr. Nganga, whose leadership, wisdom and guidance has led Safaricom to where it is,” Joseph said.

“As I take up the new role, I am optimistic of the great opportunities ahead to work with the Board, Peter and the entire Safaricom team to continue to transform lives,” he added.

Nganga has served on the Safaricom board for the last 13 years and oversaw the company’s growth to achieve the biggest market share.

When he was appointed Chairman in 2007 Safaricom had just over six million customers, 1,000 employees and only eight Safaricom shops across the country. Today, the telco has 35.6 million customers with a staff force of over 6,500 employees.

Nganga said: “I am happy that I handover the leadership baton to Michael whose skills and energy I have had the chance to see and appreciate over the years. I am grateful for the opportunity to serve, not just the board but also the shareholders and the company. Throughout the years, I am proud of the numerous moments that I have been involved in, steering and guiding this great organisation to the enviable position it is today.”

During its virtual AGM, the company announced a total of Kshs 56.09 billion will be paid out to shareholders, with the government expected to receive Kshs 19.63 billion.