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Corporate Movements – March 2019

Corporate Movements – March 2019


GraceKennedy Limited (GK) has advised that further to the Senior Management changes announced in January 2019, the following Board changes are in effect:
1.1 Resignation of Director
Mr. Frank James, current Group Chief Financial Officer will resign from the Board of GraceKennedy Limited effective April 1,2019. Mr. James will succeed Mr. Ryan Mack who retires at the end of March, as CEO Domestic Foods Division effective April 1,2019. Mr. James will remain a member of the Group’s Executive Committee.
1.2 Appointment of Director
Mr. Andrew Messado will be appointed to the Board effective April 1,2019. In succeeding Mr. James as Group Chief Financial Officer effective April 1, 2019, Mr. Messdo will be appointed a member of the Group’s Executive Committee as of that date.
Mr. Messado is a Fellow and Lifetime Member of the Institute of Chartered Accountants of Jamaica, (ICAJ).
2. GraceKennedy Financial Group limited
Mr Andrew Messado and Mr. Steven Whittingham will be appointed to the Board of GraceKennedy Financial Group Limited (GKFG), a fully owned subsidiary of GraceKennedy Limited with effect from April 1,2019, subject to regulatory approval by the Bank of Jamaica.
GK further advised that Mr. Frank James will demit office as a director of GKFG on April 1,2019.

Sagicor Real Estate X Fund Limited (XFUND) has advised that Dr. Patricia Downes-Grant has resigned as a Director of SREF with effect from September 5, 2018. XFUND has further advised that Messrs. Colin Steele and Bruce James have been appointed directors, effective October 1, 2018.

tTech Limited (TTECH) has advised of the appointment of the following senior managers:
(i) Mrs. Lesley Cousins, Manager, Project Management Office, effective February 2019.
(ii) Ms. Nardia Puran, Service Desk Manager, effective February 2019.
TTECH further advised that the Chief Executive Officer and Director of Technical Services have been informed.

Jamaica Broilers Group Limited (JBG) has advised that effective February 27, 2019, Mr. Syd Mogg, Vice President, Wincorp, has been appointed a director of the Company.JBG also advised that Dr. Trevor Dewdney has tendered his resignation as a director of the Company, effective February 27, 2019. The Company advises that the resignation of Mr. Trevor Dewdney, Member of the Audit Committee, is not due to any disagreement in respect of accounting principles or practices, financial statement disclosure or any other material issue impacting on the Audit Committee or the member’s ability to properly carry out the functions delegated by the Board.

Supreme Ventures announces managerial changes at SVREL
The Supreme Ventures Group today disclosed the departure of Chief Executive Officer of the Supreme Ventures Racing & Entertainment Limited (SVREL), Major Hugh Blake. Major Blake has officially resigned his position effective February 28th.

Major Blake, who was at the forefront of positioning SVREL over the last few months, has vacated the post to pursue other interests and personal projects. President & CEO of Supreme Ventures, Ann-Dawn Young Sang commended Major Blake for his astute leadership during the period and wished him success in his future endeavours.

In the interim period, SVL CFO Dennis Chung will serve as Acting CEO until a suitable replacement can be found. Chung has considerable executive leadership training and experience and has been a Director of the SVREL Board since February 2018.

“We are pleased to have Dennis on board in this interim capacity, and we look forward to his leadership during this transition. We thank Hugh for his contribution to the growth of SVREL, and wish him all the best going forward” stated SVREL Chairman Solomon Sharpe.

Since their takeover of the track in 2017, SVL has implemented systematic, strategic changes to the operations of SVREL including the expansion of the Off-Track Betting network, the implementation of a new, state of the art tote system, and expanded its simulcast footprint outside of Jamaica.