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Corporate Movements – May 2020

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Jamaica Broilers Group Limited (JBG) has advised that Mr. John Carberry demitted office as General Manager of Best Dressed Chicken Processing Facilities and Energy, effective May 15, 2020.

NCB Financial Group Limited (NCBFG) has advised of the appointment of Mrs. Anne McMorris-Cover as Head of Enterprise Operations at its major Jamaican banking subsidiary, National Commercial Bank Jamaica Limited, effective June 1, 2020.

Key Insurance Company Limited has advised that their Corporate Services Manager, Ms. Treveen Little, demitted office effective May 29, 2020.“This departure stems from a recent review of the Company’s organizational structure at all levels geared towards improving

efficiency. Going forward, the position of Corporate Services Manager will no longer exist.

tTech Limited (TTECH) has advised of the appointment of Mr. Justin Morin as an Independent Non-Executive Director, effective May 25, 2020. “Mr. Morin is the Managing Director of Appliance Traders Limited, a position he has held since October 2019. He is an accomplished business executive with over 20 years’ experience spanning Strategy, General Management, Digital Transformation, and Corporate Finance.

Jamaica Public Service Company Limited (JPS) has advised that the Board of Directors appointed Michel Gantois as the new President and CEO of the Company, effective May 31, 2020. Mr. Gantois replaces Emanuel DaRosa, whose tenure as President and CEO of JPS ends on May 30, 2020.

Sagicor Group Jamaica Limited (SJ) has advise that the undermentioned persons have been appointed as Directors to SJ Board as at May 13, 20:

Ms. Lisa Lake
• Mr. Reza Satchu
• Mr. Mahmood Khimji
• Mr. Timothy Hodgson

These appointments are subject to regulatory approval and we will shortly be filing the requisite application for them to be deemed Fit and Proper for assessment, SJ further stated. SJ also advised that Messrs. Jeffrey Cobham and Richard Downer resigned as Directors on May 13, 2020, but will remain as Directors of Sagicor Life Jamaica Limited.

Mailpac Group Limited (MAILPAC) has advised that Mrs. Toni Whitehorne, Chief Operations Officer for Mailpac Local Division, resigned from her post effective May 8, 2020, to pursue personal interests. MAILPAC added that Ms. Whitehorne’s role has been absorbed by Ms. Samantha Ray, Chief Operations Officer of Mailpac Services, who will now manage all operational teams across the entire group.

Kingston Wharves Limited (KW) has advised of the appointments and retirement to the Company’s Board of Directors and Board Committees, effective May 7, 2020 as follows:

Appointments
Mr Mark Williams, Chief Executive Officer, was appointed to the Board as Executive Director.
Mrs Kathleen Moss was appointed Chairman of the Audit Committee.
Mr Grantley Stephenson was appointed Chairman of the Compensation and Leadership Development Committee.
Mr Bruce Brecheisen was appointed as a member of the Executive Committee.

Retirement
Mr Alvin Henry retired from the Board and as Chairman of the Audit Committee.

“Mr Henry has advised that his decision to retire does not reflect any concern with the financial controls or accuracy of the financial reporting of the Company,” stated KW.

KW further stated that “The Board expresses its gratitude to Mr Henry for his fifteen years of sterling service to the Company.”

 

Lasco Financial Services Limited (LASF) has advised that Mr. Kenneth Sylvester has resigned from the Board of Directors to facilitate the intended appointment of Mr. Colin Maxwell as a Board member. Mr. Sylvester’s resignation took effect on April 28, 2020.

Kingston Properties Limited (KPREIT) has advised of the appointment of Mr. Andray Francis to fill the newly created role of Chief Financial Officer (CFO) with effect from May 4, 2020. Mr. Francis will have main responsibility for the finance and accounting strategy of the Company.

JMMB Group Limited (JMMBGL) has advised that Mr. Gregory Hines tendered his resignation as Group Chief Business Support Officer, effective April 30, 2020, to pursue other personal interests. “Since joining the JMMB family in June 2018, Gregory has been instrumental in the development of the SME business line. Going forward, Gregory may be engaged from time to time, to support the building out of the Group’s Credit offering,” JMMBL states.

NCB Financial Group Limited is pleased to announce that Mr. Euton Cummings has been appointed Head of Group Human Resources and Facilities Division of National Commercial Bank Jamaica Limited effective May 1, 2020. In this role, Euton will have responsibility for the development and direction of strategies for the effective and efficient management of the human capital of NCB in keeping with the organisation’s strategic direction. He also has overall responsibility for the Facilities provisioning for the Group. He has been with NCB for the past 16 years and possesses over 27 years’ experience in the Human Resources field. Euton holds an M.Sc. Computer-Based Management Information System and a B.Sc. Accounting (Major) Management Studies (Major) from the University of the West Indies.

Sagicor Group Jamaica Limited (SJ) has advised that their Executive Vice President and Chief Financial Officer, Mr. Ivan Carter, proceeded on early retirement, effective April 17, 2020. Mr. Carter is succeeded by Mr. Andre Ho Lung, who joined the Sagicor Group on April 20, 2020, in the capacity of Chief Financial Officer, Sagicor Group.

“Mr. Ho Lung holds an M.Sc. and a B.Sc. in Accounting from the University of the West Indies and is a Fellow of the Association of Chartered Certified Accountants. His experience in leading through complex organizational change and his collaborative style will serve him well in his new role within the Group.

“Mr. Carter has done tremendous work with our Group Finance, Group Information Technology, and Group Project Management teams over the years. His dedication and commitment to excellence has built a strong foundation for our operations and has been crucial to Sagicor’s growth and overall success during his tenure,” states SJ.

Kingston Wharves Limited (KW) has advised that Mr. Stephan Morrison has been appointed Company Secretary effective April 15, 2020. Mr. Morrison replaced Ms. Clover Moodie, the Chief Financial Officer, who served as interim Company Secretary.

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Corporate Movements: Margaret Campbell Appointed CEO of GKMS Group; Lee-Anne Bruce Named COO

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GraceKennedy Limited (GK) is pleased to announce leadership changes at GraceKennedy Money Services (GKMS) as part of its ongoing succession plan and strategic talent development and deployment.

Effective April 1, 2025, Margaret Campbell will assume the role of Chief Executive Officer (CEO) of the GKMS Group. Campbell, who has worked with GKMS for over 25 years, has served as its Chief Operating Officer (COO) since 2020. She joined GKMS in 1996 and has held several leadership roles during her tenure including, Financial Controller, Chief Financial Officer (CFO), and Country Manager for GKMS Jamaica. A Fellow Certified Chartered Accountant, Campbell also holds an MBA in Finance from the University of Manchester and serves on several GK subsidiary boards. She is also the current President of the Jamaica Money Remitters Association.

Frank James, Group CEO of GraceKennedy, expressed confidence in Campbell’s leadership, stating, “Margaret has demonstrated strong leadership and an unwavering commitment to providing exceptional value and convenience to our customers across Jamaica and the wider Caribbean, in keeping with our vision of being the number one Caribbean brand in the world. I have no doubt she will continue to drive GKMS forward.”

Grace Burnett, CEO of GKFG, added, “Margaret’s industry expertise and strategic approach make her the ideal person to lead GKMS into the future. Her experience and passion for operational excellence will be instrumental as GKFG continues to grow and evolve.” The announcement of Campbell’s appointment comes as Burnett, who has led GKMS since 2019, prepares to retire from GraceKennedy later this year.

Lee-Anne Bruce

Additionally, GraceKennedy has named Lee-Anne Bruce as the new COO of the GKMS Group, also effective April 1, 2025. Bruce holds a bachelor’s degree from the Frank G. Zarb School of Business at Hofstra University and is a Certified Anti-Money Laundering Specialist. With over a decade in senior leadership roles at GK, she has served as Group Chief Compliance Officer, Chief Risk Officer, and most recently, Chief Audit Executive. She began her career at GK in 2003, when she played a key role in GKMS’ expansion into the Eastern Caribbean.

Margaret Campbell, incoming GKMS CEO, welcomed Bruce’s appointment, stating, “Lee-Anne is no stranger to GKMS and her extensive experience and understanding of our business will undoubtedly be invaluable in her new role.”

In light of the leadership changes at GKMS, Judith Chung, Group Chief Compliance Officer & Senior Legal Counsel, will act as Chief Audit Executive of GraceKennedy Limited, while Jason Bailey, Head of Risk, will temporarily assume responsibility for the Compliance portfolio.

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GraceKennedy Limited (GK) Announces Additional Leadership Changes

These leadership changes align with the Company’s commitment to fostering a performance-driven culture while promoting innovation and consumer centricity.

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GraceKennedy Limited (GK) has announced key leadership changes set to take effect in 2025 as part of the Company’s succession plan.

Effective February 14, 2025, Andrea Coy will assume the role of CEO of GraceKennedy Foods, a move which will see the integration of the domestic and international segments of GK’s food division under a single leadership structure.

Since joining GraceKennedy in 2005 as Hi-Lo’s Financial Controller, Coy has held several key leadership roles within GK, including General Manager of Hi-Lo Food Stores and World Brands Services, CEO of Hardware & Lumber, Senior General Manager of the GK Foods Global Category Management Unit, and CEO of GK Foods Domestic. She has led GK’s international food operations since 2018 and is a member of the GK Executive Committee. Under her leadership, both GK’s domestic and international food businesses recorded significant growth in revenues and profitability. Coy holds degrees in Accounting from the University of the West Indies and is a member of the Institute of Chartered Accountants of Jamaica. She specializes in Turnaround Management and has completed advanced studies in the field at Harvard Business School. She serves on the Board of the Bank of Jamaica.

Later this year, following a distinguished 25-year career at GK, Grace Burnett will retire as CEO of the GraceKennedy Financial Group (GKFG), effective August 14, 2025. Upon her retirement, Steven Whittingham, the current Deputy CEO of GKFG, will step into the role of CEO, ensuring a seamless transition in leadership.

Grace Burnett

Burnett joined GK in 2000 and has held several key leadership roles within the Group. She previously served as Managing Director of GK General Insurance and Allied Insurance Brokers, where she led strategic operations for GK’s insurance business. From 2014 to 2019, she was the CEO of GK’s Insurance Segment, driving growth and innovation in the sector. An attorney-at-law, she has been the CEO of GKFG since 2016 and holds the position of the President & CEO of GraceKennedy Money Services. She is also a member of the GK Executive Committee. Well-known for her expertise in customer service, operations, and talent development, Burnett has earned accolades both within GK and externally. Her outstanding contributions to the insurance industry and exemplary leadership were formally recognised in 2024 when she received the prestigious Insurance Association of Jamaica Leadership Excellence Award.

Steven Whittingham

Whittingham joined GK in 2013 and has been Deputy CEO of GKFG since 2022, overseeing the Group’s Insurance Segment, merchant banking, and investment portfolios. He is a member of the GK Executive Committee and leads GK’s digital transformation. He has held various leadership roles within GK, including Chief Investment Officer of GraceKennedy Limited, Chief Operating Officer of GKFG, President of First Global Financial Services and Managing Director of GK Capital Management. During his tenure he has been instrumental in driving GK’s expansion through strategic mergers, acquisitions, and greenfield startups, consistently delivering impressive growth across portfolios. Whittingham holds dual degrees in Systems Engineering and Economics from the University of Pennsylvania and an MBA from Harvard Business School. In 2024 he was appointed Chairman of the Jamaica Stock Exchange, and he has served on several public and private sector boards.

These announcements come as GK prepares for another major leadership transition later this week. Last month, the Company confirmed that Group CEO, the Honourable Don Wehby, CD, OJ, will retire on February 14, 2025, stepping down from the Board of Directors after a distinguished tenure.

He will be succeeded by Frank James, current CEO of GK Foods Domestic and former Group CFO. GraceKennedy remains steadfast in its commitment to executing its strategy and ensuring excellence across all its operations.

These leadership changes align with the Company’s commitment to fostering a performance-driven culture while promoting innovation and consumer centricity. As the GK team strives to achieve its vision of becoming the number one Caribbean brand in the world, these appointments will provide continuity and strategically position GraceKennedy for sustained growth and innovation in the years ahead.

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Corporate Movements – February 2025

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Scotia Group Jamaica Limited (SGJ) is pleased to announce the appointment of Yvett Anderson as Head of Sales Distribution, Caribbean North and Central, The Bank of Nova Scotia Jamaica Limited, effective February 3, 2025

Caribbean Producers (Jamaica) Limited wishes to advise that its Board of Directors approved the appointment of Mr. Rob Van Den Blink and Mr. Carlos Moleón as Independent Directors of the Company effective February 10th, 2025. These appointments are part of the Company’s ongoing efforts to strengthen the leadership and governance of the Company, ensuring continued growth and success in the years ahead. The newly appointed directors bring a wealth of experience and expertise that will further enhance the Company’s strategic direction and overall performance.

Stanley Motta Limited (SML) effective February 13, 2025 wishes to announce that Ms. Andrea Kinach resigned as a Director of the Board and a Member of the Audit Committee and that Ms. Jacquelin Watson was appointed as a Director of the Board and a Member of the Audit Committee.

Key Insurance Company Limited hereby notifies the Jamaica Stock Exchange of the following changes to its Board of Directors: Retirement of Mr. Don Wehby. Mr. Don Wehby has retired from his position as a Director of the Company, effective February 14, 2025. Appointment of Ms. Rochelle Cameron as Chairman.  The Board of Directors has appointed Ms. Rochelle Cameron as the new Chairman of the Company, effective immediately. The Board wishes to express its profound appreciation to Mr. Wehby for his exceptional leadership, strategic guidance, and unwavering commitment to the Company. His vision and contributions have been instrumental in driving the Company’s growth and success over the past years. The Board welcomes Ms. Cameron to her new role and looks forward to her leadership in guiding the Company’s continued progress.

Derrimon Trading Company advises that Mr. Winston Thomas has resigned from the Board of Directors of Derrimon Trading effective January 31, 2025. We thank Mr. Thomas for his contribution to the Board and wish him every success in his future endeavours.

Sagicor Group Jamaica Limited (SJ) wishes to advise that Mr. Gilbert Palter resigned as a Director of SJ and its subsidiary, Sagicor Life Jamaica Limited (SLJ) effective January 31, 2025. SJ is pleased to announce that the SJ and SLJ Boards have approved the appointment of Ms. Cathleen McLaughlin as a Director of these companies effective February 1, 2025, subject to regulatory approval. Ms. McLaughlin holds a Bachelor of Arts degree from the University of Pennsylvania as well as a Juris Doctor degree from the University of Pennsylvania Law School and has over three (3) decades of experience working in the area of Corporate Finance, including experience in capital markets in the Caribbean and Latin America.

Supreme Ventures Limited (SVL) is pleased to announce the appointment of Mr. Stefan Miller, as the acting CEO of Supreme Ventures Gaming Limited effective February 1, 2025.

Pan Jamaica Group Limited (‘PJG’) announces that Mr. Eric Scott, Deputy Chief Financial Officer will be leaving PJG to pursue other opportunities, effective March 31, 2025. PJG thanks Mr. Scott for his contribution to the Group and wishes him every success in his future endeavours.

 

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GraceKennedy Announces Leadership Changes – Don Wehby Retires; New CEO Announced

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GraceKennedy Limited has announced key leadership changes, effective February 14, 2025, coinciding with the company’s 103rd anniversary.

After a distinguished tenure, the Honourable Don Wehby, CD, OJ will retire as Group CEO on February 14, 2025, and step down from the Board of Directors. Mr. Wehby joined GraceKennedy in 1995 and was appointed Group CEO in 2011. During his tenure, the company more than doubled in size with revenue moving from J$58 billion in 2011, to J$155 billion in 2023.

Expansion through mergers and acquisitions has been a hallmark of Wehby’s leadership, enabling the company to grow regionally and globally. Under his guidance, it has become one of the largest and most dynamic entities in the Caribbean, with operations spanning the Caribbean, North and Central America, the United Kingdom, and Europe. “I am proud of the progress we have made during my tenure, and I am confident that the new leadership team will take GraceKennedy to even greater heights,” said Wehby. “I want to thank the Board, my colleagues, and our customers for their support over the years,” he added.

Frank James, current CEO of the company’s Domestic Foods Division and former Group CFO, will assume the position of Group CEO on February 14th, 2025, and be appointed to the Board on the same date. Mr. James joined GraceKennedy in 2005 as Vice President of Strategic Planning and Corporate Development. James quickly moved through the ranks, occupying senior roles in both the Food and Financial Services Divisions, before he was appointed Group CFO in 2012. He was also appointed to the Board of Directors that same year. In April 2019, James was appointed Chief Executive Officer, GK Foods Domestic, the largest division in the group of companies, where he has championed growth and efficiency. Under his leadership, revenues for GK Foods Domestic grew by more than sixty percent up to 2023 and continues on that growth path, with even greater growth in profitability over the period.

“I am honoured to take on the role of Group CEO and lead the GraceKennedy team,” said Mr James. “We will continue to focus on delivering value to our customers, shareholders, and the communities we serve,” he added.

Professor Gordon Shirley, Chairman of GraceKennedy Limited, commented, “Don Wehby is an exceptional leader who sees opportunities in challenges and leads by example. We are grateful for his innovative spirit, impeccable work ethic and dedication to ensuring that the company continues to make a difference in the communities we serve. Don’s leadership and vision has been instrumental in shaping the company into what it is today.”

He added, “We welcome Frank to his new role as Group CEO and I have every confidence that his strong leadership will ensure continued growth and innovation across the business. The best is yet to come for GraceKennedy.”

Professor Shirley also expressed his gratitude to Andrew Messado, GraceKennedy Group CFO, for his exemplary leadership during the transition period, following Don Wehby’s temporary leave of absence as Group CEO, in late 2024. The GraceKennedy Chairman noted, “Mr. Messado’s steady hand ensured the company’s continued momentum, and his contributions during this period are gratefully acknowledged.”

These leadership changes are in keeping with the company’s succession plan and are designed to ensure continuity and drive future growth, in line with its 2030 Vision of becoming the Caribbean’s #1 brand with Jamaican roots and a global reach.

GraceKennedy Limited has named Frank James as its new Chief Executive Officer (CEO) as it announced the retirement of Don Wehby from the post.

In October last year, Wehby announced he was taking temporary leave from his role to focus on his health.

In a media release on Tuesday, GraceKennedy said Wehby will retire as Group CEO on February 14 and step down from the board of directors.

Wehby joined GraceKennedy in 1995 and was appointed Group CEO in 2011. During his tenure, the company more than doubled in size with revenue moving from $58 billion in 2011 to $155 billion in 2023.

Professor Gordon Shirley, Chairman of GraceKennedy Limited, commented, “Don Wehby is an exceptional leader who sees opportunities in challenges and leads by example. We are grateful for his innovative spirit, impeccable work ethic and dedication to ensuring that the company continues to make a difference in the communities we serve. Don’s leadership and vision has been instrumental in shaping the company into what it is today.”

James, who is the current CEO of the company’s Domestic Foods Division and former Group Chief Financial Officer, will assume the position of Group CEO on February 14 and be appointed to the board on the same date.

James joined GraceKennedy in 2005 as Vice President of Strategic Planning and Corporate Development. He quickly moved through the ranks, occupying senior roles in both the Food and Financial Services Divisions, before he was appointed Group CFO in 2012. He was also appointed to the board of directors that same year.

In April 2019, James was appointed Chief Executive Officer, GK Foods Domestic, the largest division in the group of companies, where he has championed growth and efficiency. Under his leadership, revenues for GK Foods Domestic grew by more than 60 per cent up to 2023.

In commenting on his new role, James. said, “We will continue to focus on delivering value to our customers, shareholders, and the communities we serve.”

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Corporate Movements – January 2025

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Scotia Group Jamaica Limited has announced the resignation of Perrin Gayle, Executive Vice President of Retail and Small Business Banking and Acting Head of Retail (Caribbean and Central America) effective January 24, 2025. Perrin joined the organization in 2012 and held progressively senior roles in both Trinidad & Tobago and Jamaica. During his tenure, Perrin made a very strong contribution to our team, and we wish him well. Upon Perrin’s departure, Yvett Anderson, the current Director of Customer Experience & Advocacy, will support the business as Acting Head of Retail and Small Business for Caribbean North and Central.

The Jamaica Stock Exchange (“JSE”) announces that the Managing Director, Dr. Marlene Street Forrest, will continue to serve in her current capacity until the Board of Directors has successfully completed the recruitment process for her successor.The JSE Board and Dr. Marlene Street Forrest are committed to ensuring a smooth transition to maintain the integrity, stability and continued growth of the organization. The recruitment process is well underway, and the Board remains focused on selecting a candidate who will uphold the JSE’s legacy of innovation and excellence in capital market development.

VM Investments Limited (VMIL) advises that Mrs. Nicole Adamson, who held the post of  Manager, Research, Business Planning and Investor Relations at VMIL and VM Wealth Management Limited (VMWM), resigned from the company effective December 31, 2024.

The Board of Directors of Pan Jamaica Group Limited (‘PJG’) has confirmed that Stephen Facey and Jeffrey Hall will remain as Chairman, and Vice Chairman & Chief Executive Officer (‘CEO’) of PJG, respectively. PJG previously indicated its intention to name a successor to Mr. Hall as CEO and simultaneously to appoint Mr. Hall as Executive Chairman of PJG with effect from January 2025. The PJG Board has confirmed that both the company and the persons involved are completely satisfied with the current governance and executive leadership arrangements, and accordingly, the Board has elected to defer the planned succession.

Pan Jamaica Group Limited (‘PJG’) announces that Mr. Eric Scott, Deputy Chief Financial Officer will be leaving PJG to pursue other opportunities, effective March 31, 2025.

The Board of Directors of Derrimon Trading Company Limited (DTL) is pleased to announce the appointment of Ian C. Kelly, CD, as Chief Executive Officer effective January 1, 2025. Mr. Kelly, who joined Derrimon in 2011, most recently served as Group Chief Financial Officer, Executive Director, and Divisional Director at Sampars, Corporate Planner and Finance Director. Derrick Cotterell, the outgoing CEO and Chairman, will assume the role of Executive Chairman after 26 years of visionary leadership at the helm of the company. This leadership transition aligns with Derrimon’s robust corporate governance and strategic succession planning, ensuring the separation of the roles of CEO and Chairman. Mr. Kelly’s extensive accomplishments at Derrimon include spearheading the execution of many key mergers and acquisitions, the initial IPO in 2013 and negotiating and securing funding for Derrimon’s transformative projects, including the J$4.076 billion Additional Public Offering in 2021. His commitment to innovation and operational excellence positions him as a transformative leader for Derrimon’s next chapter.

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