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Centum sets new record with Sh375.6m CEO pay

Wednesday, September 13, 2017 — updated on December 11, 2020 - 5 min read

Centum Investments chief executive officer James Mworia. FILE PHOTO | NMG

By Victor Juma

Business Editor

Nation Media Group

Why we stand by our story on Centum CEO pay

The Centum Investment CEO James Mworia, in several tweets Wednesday, challenged the accuracy of this story headlined: “Centum CEO sets new record with Sh375.6m CEO pay.”

There annual report tabulates key management compensation, which includes pay for executive directors and senior management. This was given as Sh614.9 million and Sh711.5 million for the years 2017 and 2016 respectively, at the group level.
There is additional disclosure of the management team remuneration, now narrowed down to those who are executive directors. This is given as Sh375.6 million and Sh201.1 million for the years 2017 and 2016 respectively, again, at the group level.
Mr Mworia is the only executive director at the group level at Centum, and the amounts above are attributable to him alone going by the presentation in the annual report.
“The board has only one executive director to prevent conflicting roles between the Management and the Board of Directors,” Centum says in its 2017 annual report.