Centum picks top executive to sit on Longhorn Publishers board
Centum has nominated one of its executives to sit on the board of Longhorn Publishers after the investment company doubled its stake to become a majority shareholder in the book publishing firm.
Fred Murimi Ngari, managing director at Centum Capital — the company’s investment arm — joined the Longhorn board of directors effective April 21, 2017.
This is after Centum mid-last year doubled its holding in Longhorn to 60.2 per cent from 31.25 per cent previously after snapping up additional shares through a rights issue.
Longhorn Publishers is effectively now a subsidiary of Centum.
“Fred has extensive experience in the investment industry…the company is looking forward to drawing from his experience and expertise,” Longhorn Publishers said in a regulatory filing to the Nairobi Securities Exchange.
Mr Ngari was promoted to head Centum Capital in August 2015. Prior to this appointment, he served as the corporate affairs director and company secretary at Centum from January 2013.
He previously worked at Capital Markets Authority, Dyer & Blair Investment Bank, and Renaissance Capital.
He graduated in 2003 from the University of Nairobi with a law degree and also holds an MBA from United States International University-Africa.
Mr Ngari is also a certified accountant and secretary.
Longhorn chairman Francis Nyammo is the second-largest shareholder with an 18.73 per cent stake in the publisher.