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Succession Planning for Safaricom
Rank: Elder Joined: 9/15/2006 Posts: 3,905
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Must admit only dull point in the interview was the successor issue. These companies with very strong leaders... now what happens with proper succession planning...
Well at least Vodafone would give guidance.
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Rank: Chief Joined: 1/3/2007 Posts: 18,136 Location: Nairobi
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Well, he does still enjoy his job so... expect him to be around for now... I think the next head of safaricom will be Kenyan... I just hope the next jamaa/ess continues the innovations... Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 6/27/2008 Posts: 4,114
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@VVS, didn't I hear that MJ is now a Kenyan; that he naturalised himself? Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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Rank: Elder Joined: 9/15/2006 Posts: 3,905
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@mukiha, actually he's an American citizen I think, though may have been born in South Africa. And I wonder whether sometimes you need to be a foreigner to really appreciate a country. Many times, Kenyans take Kenya for granted.
About the next CEO being Kenyan, I'd be surprised going by CFO appointment not long ago; and I expect both CEO and CFO must be Vodafone appointees. Anyway, nationality doesn't matter, performance first, no compromise!
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Rank: Elder Joined: 6/27/2008 Posts: 4,114
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@Muganda; What do Etemesi (SCBK), Mohamed (BBK), Mahinda (formerly, EABL) and Naikuni (KQ) have in common? They are all Kenyans running foreign owned major companies...and doing a good job at it. You never know, Vodafone may hunt down for an exceptional Kenya to take over from MJ. And you never know, he/she might do wonders at SCOM till we start asking why MJ stayed on for so long.... Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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Rank: Chief Joined: 1/3/2007 Posts: 18,136 Location: Nairobi
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MJ was S.African but is now American... He went to univ in S.Africa (& you can discern his accent as well)... but in the prospectus he is shown as American (unless S.Africa allows dual citizenship). Of course, may kajwang convinced MJ to convert... Or MJ wants to stand for elections... Or MJ wants to work for RAO... I can guarantee... MJ will not be messed with regarding work permits in Kenya... at least for the moment... 800,000 Kenyans will protest!!! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 1/3/2007 Posts: 18,136 Location: Nairobi
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@mukiha - I concur with @mugunda that PERFORMANCE is more important but just like the firms you mentioned... the Kenyan should be picked on merit... BTW, I believe each one the names you picked took over from an expat... BUT I think we should leave MJ where he is for now... he knows this market better (it seems) than anyone else... Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 6/27/2008 Posts: 4,114
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@VVS & @ muganda (are you Ugandan?); merit is important, but sometimes a company may want to project an image of belonging to the country it operates. Thus merit and PR and mixed in the equation for selecting the CEO. the companies I have mentioned relised that having a Kenyan Chairman of the Board in a non executive capacity is not enough.... May be we should start a thread on selecting a CEO.... In the meantime, SCOM dips below 6bob Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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Rank: Elder Joined: 12/6/2008 Posts: 3,549
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Yes PERFORMANCE, can you imagine if Moi was to select the next CEO where the government had 55% ownership? He will bring Dr. Kiplangat arap Ngeno ( a Music and P.E lecturer from Egerton), next thing you hear is cash being ferried to statehouse in a briefcase every Friday. I feel pain when i remember those days, till now we prefer mzungus Meru Holiness
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Rank: Elder Joined: 2/16/2007 Posts: 2,114
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@MK,
I think he would bring DR.D.Koech the ex KEMRI MD.
He seems to have very good experience in dipping his fingers in the till..
BTW what happened to KEMRON?
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Rank: Chief Joined: 1/3/2007 Posts: 18,136 Location: Nairobi
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@mukiha - I agree with you BUT with major reservations... coz as Kenyans we have sacrificed quality on that basis... The judiciary became a tool of dan moi after the 'kenyanisation' rule... I mean I understand what you are saying but at certain levels we should pick the best & brightest... The head of the ECK (IIEC or whatever they call it) should be a foreigner from a friendly country... Seriously... I don't want someone calling the jamaa & talking in vernacular like ka-loser did with kivuitu... On a personal level, my best teachers in High School were Ugandans until they were chased out... Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 6/27/2008 Posts: 4,114
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...BTW; who is the Chairman of SCOM? @All: Perhaps the question then is: whom do you think would make a good successor to MJ? Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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Rank: Elder Joined: 9/15/2006 Posts: 3,905
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@mukiha, Mr. Nicholas Nganga, Chairman
Mr. Nganga joined the Board of Safaricom
Ltd. on 6 May, 2004 and was elected
Chairman on 16 January, 2007. The holder
of a BA degree from Makerere University, he
served as Permanent Secretary in the
Ministries of Finance, Foreign Affairs and
Health and has been extensively involved in
the tea industry. Currently, Mr. Nganga is
also Chairman of G4S Security and
Vice-chair of the Council of the
University of Nairobi.
You know I've noticed board positions in current government are used to reward connected people. Don't know how this augurs for corporate governance, but it's the life we live.
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Rank: Member Joined: 3/6/2008 Posts: 632
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I am in agreement with the fact that quality above else should be key. I think in the past most of this companies shied away from from locals not because they were not qualified but it's the aspect of PEP's ( Politically Exposed Persons) and history had judged that once you have such a person at the helm then it's a spiral down from then on. More often than not a brilliant mind was head hunted and 2-3 years down the line you wonder what the hell they have been smoking, case in point there was a brilliant chap from Cambridge head hunted now the MD of xxxxx but everyday i wonder and ask my self the above question. Hinc lucem et pocula sacra...
The greatest danger in times of turbulence is not the turbulence; it is to act with yesterday's logic.
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Rank: Veteran Joined: 1/7/2010 Posts: 1,279 Location: nbi
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Please note Vodafone is the one that chooses the CEO and CFO so unlikely to be a Kenyan or African for a long while. Assuming he didn't need telecom experience to be CEO, my choice would be Kipngetich the KWS head or the ex-New KCC CEO The Governor of Nyeri - 2017
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Rank: Chief Joined: 1/3/2007 Posts: 18,136 Location: Nairobi
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For firms I have invested in... I want the best person for the job... Kenyan or not! For the competition to 'my' firms... a Kenyan... Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 10/1/2009 Posts: 2,436
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Who holds the SCOM fort when MJ is AWOL?
Most likely his CFO. This happens in many corporates, because the finance dept is a critical nerve centre of any organisation. In most cases CFOs have a head start in the succession race. But the jury is still out on whether bean counters make the best CEOs?
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Rank: Veteran Joined: 5/18/2008 Posts: 796
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News news news news !!!!!
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