Nairobi — Centum Investment has made a new appointment to its board of directors.

The listed investment company named Mr Imtiaz Khan as a non-executive director of the board filling a position that has remained vacant for about two months. Mr Khan replaces Mr Isaac Awuondo who resigned in early October.

Mr Awuondo, who is also the chief executive officer of Commercial Bank of Africa, opted to resign for what he termed pressing matters that would demand more of his time.

"We went through a very rigorous and meticulous process of recruitment and selection to confirm Mr Khan's appointment," Centum board chairman James Muguiyi said in a statement released on Thursday.

Mr Muguiyi said the new director would be of great value to the company because of his strong investments background, extensive capital markets experience, corporate finance expertise and private equity origination capabilities.

The appointment comes less than two weeks after Centum named Mr James Mworia as the new CEO and managing director following the resignation of Mr Peter Mwangi.

Mr Khan is the co-founding director of Cassia Capital Partners Limited, a company that focuses on corporate finance advisory and private equity investment opportunities in East Africa.

A career finance specialist, his experience spans 15 years and started at PricewaterhouseCoopers Kenya before moving to London. He also had a stint with the International Finance Corporation in both Washington and Kenya.

He holds a Master of Business Administration with distinction from London Business School, a Bachelor of Commerce degree from the University of Nairobi and is a Certified Public Accountant of Kenya finalist.

Centum, which is one of the oldest and largest investment companies in the country, boasts of a rich portfolio that includes Coca Cola, General Motors, UAP Insurance, Longhorn Kenya, Rift Valley Railways and K-Rep Bank.