Jeffrey Hall, BA, MPP, JD, was appointed Group Managing Director of Jamaica Producers Group in July 2007 after joining the Group in 2002 and the Board in 2004 and. He succeeded his father Dr. Marshall Hall, who has retired.

Less than four months into his appointment he announced sweeping management changes at Jamaica Producers, saying it was in keeping with the turnaround plan he was guiding. The appointments included an interim replacement for Andrew Lord, the head of Serious Food Company, who had resigned and Charles Czerkawski as group chief financial officer. Czerkawski held senior positions at global firms Kraft Foods, Pepsi-Cola Bottling, Gillette and Iron Mountain. Paul Samuels, the group financial controller who had replaced Peter Morris, added company secretary to his portfolio. Vince Price was brought onboard as interim managing director of Serious Food – now the largest operating division of the group. Hall also announced at the time that he would also be naming two new appointments to JP’s commercial divisions – the Serious Food Group and Producers Holdings – and has not ruled out promotions from within.

“We are confident that the group has adopted the right long-term strategy for building shareholder value and that the priorities for the senior-management team going forward were around effective execution of that strategy,” said Hall at the time.

Hall is on a mission to reshape Producers into a company less dependent on its traditional banana business and more focused on building out its processed and fresh-food segment as a growth market. Hall is also taking steps to realign both businesses towards growth opportunities as neither of them was delivering a satisfactory level of performance. The Serious Food Group consists of JP’s juice and smoothie, fresh desserts, soups and chilled distribution businesses in the United Kingdom. Producers Holdings is the vehicle created for JP’s farming, logistics and snack-food businesses.

Jamaica Producers Group Limited (JP) earned after-tax profits in 2010 of $302.1 million reflecting an increase of 44% relative to 2009.  All business segments demonstrated improved profit performance.

The JP Europe operating division accounted for 78% of the combined revenues of JP.   JP Europe is the largest producer of fresh juice in the Netherlands and exports fresh juice into neighboring countries.  The division also operates a UK-based logistics company serving the English-speaking Caribbean.  JP Europe improved its profitability despite macroeconomic instability and increased commodity prices, particularly in the second half of the year.

Revenues declined by 6% primarily as a result of a 6% depreciation of the euro relative to the Jamaican dollar.

The JP Tropical operating division is the leading tropical snack producer in the Caribbean.  JP Tropical includes farming, food processing and the management of land holdings and accounts for 20% of JP’s revenues. JP maintained profitability despite softening consumer demand in Jamaica – the primary market.  Through strong marketing and new product development, JP was able to achieve solid growth in their ripe banana business and tropical snack operation.

Jeffrey Hall, Group Managing Director of Jamaica Producers Group

Notwithstanding this success in Jamaica, overall revenues declined by 2% primarily as a result of a decision to exit their export banana farming business in Honduras.  After review, JP concluded that this business no longer met its strategic objectives and rate of return criteria.

The Corporate segment recorded a profit of $81.8 million in 2010 compared to a profit of $46.3 million for the comparable period in 2009.  The company continues to benefit from capital gains and controlled costs. The segment comprises interest and investment income net of the cost of corporate functions not directly charged to the business units.

Jeffrey Hall having made the top 10 list for the first time at #4 appears to be on the right track and his turn around and reshaping of the JP group is bearing fruit. He also serves on the JP Board’s Audit and Executive Committees.  Mr. Hall is a Director of the Scotia Group Jamaica Limited, Blue Power Group Limited, Agro-Invest Corporation and the Institute of Jamaica, Museums Division.  Mr. Hall received his Bachelor of Arts degree (summa cum laude) in Economics from Washington University, his Masters degree in Public Policy from Harvard University and his Juris Doctorate from Harvard Law School. He has practiced law as a member of the New York Bar. BM