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Clear communication on CEO good for share value
From left: Safaricom Chief Financial Officer Sateesh Kamath, Chairman Nicholas Ng’ang’a and Strategy and Innovation Director Joe Ogutu during the company’s full year investor briefing on Wednesday last week. FILE PHOTO | NMG
The chief executive of a listed company plays one of the most roles in the performance of the firm’s shares on the bourse, a research has found. Therefore, an announcement that touches on the CEO must be relayed to investors in an ingenious manner, especially if the company is a dominant player in the market.
Kenya’s largest telecommunication company, Safaricom #ticker:SCOM, during the release of its financial year results last week, announced that chief executive Bob Collymore was due to return to the helm after taking a sick leave in 30 October last year. This news, among other factors, saw its share price rise on Wednesday by Sh0.75 to close at Sh29.
