Business: Centum cuts CEO's salary by 75%

-
Image result for James Mworia photos
Centum CEO James Mworia at a past event,photo courtesy 
Centum Company has cut its  chief executive James Mworia’s salary by 75 percent on grounds of inability to meet  the investment company’s  targets.
His salary dropped from Sh177.6 million in 2018 to to Sh45 million in 2019. The company’s financial report for the year ending March 2019 reveals.
This is because the company did not make enough to pay a bonus. “Our bonus remuneration is linked to the cash return of the business with a hurdle rate of 15 percent. We did not achieve that in the period and we were therefore not eligible for a bonus,” Mworia told Business Daily.

This is the second year in a row that Mworia’s salary is dropping. In 2018, his salary dropped to Sh177.6 million from Sh219.2 million.
Mr. Mworia thus fails to be among the top five highest paid CEO’s in Kenya. Last year, Cooperative Bank CEO Gideon Muriuki was the highest paid with an income of  Sh376 million. KCB CEO Joshua Oigara took home  Sh273 million.

Comments

Post a Comment

Add a comment

Popular posts from this blog

School suspends SDA students for refusing to seat exams on Saturday

-
Image
Five students from AIC Chebisaas Boys High School in Eldoret, Uasin Gishu County moved to court on Wednesday after they were suspended for allegedly refusing to sit for exams on a Saturday. According to the students who belong to the Seventh Day Adventist (SDA) faith, Saturday is their professed Sabbath Day and they should observe it by going  Church. The school management allegedly suspended them on July 6, 2019 for failing to do the allocated exams their Sabbath Day. The students accused the school of infringing on their religious rights.
Read more

Baringo Senator Gideon Moi hosts leaders ahead of 2022 elections

-
Baringo Senator Gideon Moi on Sunday hosted several Rift Valley leaders in Kabarak as the battle between him and Deputy President William Ruto for control of the region continues of 2022. The leaders visited retired President Daniel Moi before holding a closed-door meeting with Gideon. Those present included Elgeyo Marakwet Governor Alex Tolgos, Moiben MP Sila Tiren, Nominated MP Wilson Sossion and Kanu Secretary General Nick Salat. Others were former MPs Zakayo Cheruiyot, Musa Sirma, Frankline Bett, former Governor Isaac Ruto, Businessman Bundotich Buzeki and Tiaty MP William Kamket. The leaders discussed several issues concerning the region, including the welfare of farmers, peace in Kerio Valley and political trends in the region. Gideon plans to battle it out with Ruto for the presidency in 2022 and has been setting up a network of support. Meanwhile, Ruto has been making more trips to Baringo than Gideon. The DP has visited the county about 10 times, seven t...
Read more

Safaricom employee charged for stealing Ksh. 45,000 from a deceased customer

-
Image
Peter Odhiambo has been accused for accessing Janet Khaniri’s Safaricom line and making away with Sh45,600 on July 26 from her M-Pesa account. He was arraigned at a Milimani court yesterday jointly charged with others not before court.  Mr. Odhiambo pleaded not guilty to the charges and the prosecution did not object to his release on bond. His lawyer Kenneth however argued that he had a similar charge in another court. “Your honour, I don’t understand why the prosecution is bringing this case in piecemeal. We have another matter similar to this one. It is confusing,” the lawyer told Milimani Principal Magistrate Martha Mutuku.  Odhiambo was released on a bond of Sh200,000 with an alternative of Sh100,000 cash bail. Safaricom employee Peter Odhiambo when he appeared before Nairobi’s Milimani court 
Read more

County Governor sacks four CECs at midnight

-
Image
The Governor of Nyandarua County, H.E Francis Kimemia has sacked four County Executive Committee Members and immediately replaced them with new CECs. The sacking of ,Rose Wamuiya (Industrialization, Trade and Cooperatives), Simon Ng’ang’a (Water, Environment and Natural Resources) ,Faith Mbugua (Education, Gender Affairs, Culture and Social Services)and  Kariuki Mbataru (Public Administration and ICT), some minutes to midnight on Tuesday via press release. Nyandarua County Governor Francis Kimemia at past event, photo courtesy "I wish to notify the great people of Nyandarua County that I have made the following communication to the Hon. Speaker of the County Assembly. As the two-year contract term for my County Executive Committee members nears completion, and as we begin the new financial year, July 2019 to June 2020, it has become necessary to reinvigorate my transformation agenda through injection of new strategic competences for optimal performance and accountabilit...
Read more

Sports Updates: English Premier League current table after Match day one. Number 19 will shock you

-
EPL table as it stands Pos Team P W D L GD Pts 1 Man City 1 1 0 0 5 3 2 Man Utd 1 1 0 0 4 3 3 Liverpool 1 1 0 0 3 3 4 Brighton 1 1 0 0 3 3 5 Burnley 1 1 0 0 3 3 6 Tottenham 1 1 0 0 2 3 7 Arsenal 1 1 0 0 1 3 8 Bournemouth 1 0 1 0 0 1 9 Sheffield United 1 0 1 0 0 1 10 Crystal Palace 1 0 1 0 0 1 11 Everton 1 0 1 0 0 1 12 Leicester 1 0 1 0 0 1 13 Wolves 1 0 1 0 0 1 14 Newcastle United 1 0 0 1 -1 0 15 Aston Villa 1 0 0 1 -2 0 16 Norwich City 1 0 0 1 -3 0 17 Southampton 1 0 0 1 -3 0 18 Watford 1 0 0 1 -3 0 19 Chelsea 1 0 0 1 -3 0 20 West Ham 1 0 0 1 -5 0
Read more

SPORTS UPDATES, MANCHESTER UNITED SQUAD TO FACE CHELSEA FC

-
Man Utd:  De Gea, Wan Bissaka, Maguire, Lindelof, Shaw McTominay, Pogba, Andreas Pereira, Lingard, Martial, Rashford. Subs : Mata, Young, James, Romero, Greenwood, Matic, Tuanzebe Chelsea:  Arrizabalaga, Azpilicueta, Christensen, Zouma, Emerson Palmieri, Jorginho, Kovacic, Pedro, Barkley, Mount, Abraham. Subs:  Alonso, Kante, Caballero, Kenedy, Giroud, Pulisic, Tomori.
Read more