Dr. Donald Kaberuka has been appointed to serve as chairman at the board of Centum Investment Company effective immediately.
The former African Development Bank president replaces James Muguiyi who retired at the company in September.
Centum said the appointment of Dr. Kaberuka is in line with its strategy to use cross-country networks to grow its business.
Dr. Kaberuka was recently appointed as Director of the company by a unanimous resolution of the directors dated 11 October 216 to a casual vacancy created by the amendment of Article 78 of the articles of Association.
I am delighted to welcome @DonaldKaberuka to the @Centum_Inv family as Board Chair. We look forward to serving under his leadership. pic.twitter.com/4QETn9hnDD
— James Mworia (@MworiaJ) November 16, 2016
The company also announced that it has changed the Board of Directors in line with the Code of Good Governance for Issuers of Public Securities by Capital Markets Authority.
Mary Githiaka Ngige, Hon. William Byrahunga and Catherine Igathe will serve as Non-Executive Directors to the board.
On Wednesday the company posted a net profit for the half year to September grew by 7.9 per cent to KES 2 billion, driven by income from recently acquired subsidiary Longhorn Publishers and reduced forex losses on dollar-denominated loans.