Telecommunication giants Safaricom Chief Executive Officer Bob Collymore will have one more year at the Westlands offices, it has now emerged.
In April, sources within Safaricom said Mr Collymore had decided to quit his job over his health, and a recruitment process for his successor had kick-started. He was to leave this August.
“He wants to concentrate on his health so he did not wish to renew his contract,” said one of them, speaking on condition of anonymity as there has been no official announcement," Business Daily reported.
He took over from Michael Joseph in 2010 and has overseen the company to expand. In the last quarter, the company recorded Sh64 billion in profits.
On Thursday, Collymore confirmed that he will stay around for one more year. The board reportedly extended his contract for one more year, to compensate for the period he was out for medical treatment.
"I am not going anywhere. I will be here for another one year till 2020," Mr Collymore said on the sidelines of the shared value event in Nairobi as quoted by the Nation.
Last month, reports emerged that the government was keen to have Collymore replaced by a Kenyan. Board chairman Nicholas Nganga however, dismissed the claims.
"This will be subject of deliberation by the board and once a decision is made it will be communicated at the appropriate time," Nganga said in a statement.
The government has 35 per cent stake in Safaricom with Vocacom, the mother company also having the same share. Safaricom transferred ownership from Britain based Vodafone.