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Corporate Movements

Corporate Movements – September 2022

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The Jamaica Stock Exchange Limited (JSE) has advised that at a meeting of their Board of Directors on September 29, 2022, Mr. Julian Mair was re-elected as Chairman of the Board, and Mr. Steven Whittingham was elected as Deputy Chairman of the Board.

The RJRGLEANER Communications Group is pleased to advise of changes in its senior management. The changes announced on Friday by Chief Executive Officer, Gary Allen included, at the CLevel of the Group, the appointment of two Deputy Chief Executive Officers, a Chief People Officer and a change in title to Chief Strategy Officer of its Chief Operating Officer. Mr. Anthony Smith, an experienced business and technology executive joins the Group on October 1 as Deputy Chief Executive Officer — Print and Digital Services, which also places the general management of The Gleaner Company (Media) Limited, GCML under his responsibility. Dr. Claire Grant, the current General Manager for Radio and Television Jamaica, has been appointed Deputy Chief Executive Officer – Broadcast Services and Group Content Development. This includes the General Management functions for Radio, Television, Cable Services, Multimedia services and group-wide content development. Also joining the C-Level members of the team is Ms. Tanya Smith who is named Chief People Officer of the Group, moving from being responsible for only its Human Resources function. Mr. Christopher Barnes, Chief Operating Officer, who has been focused on Group strategic projects since 2019, is named Chief Strategy Officer. He will hand over the operations of GCML, where he was serving as General Manager (Interim) since February, to Deputy CEO Smith. The group further aims to establish an Enterprise Project Management Office, EPMO for oversight of all major projects implemented in the Group. This will be pursued by the Chief Strategy Officer.

Access Financial Services Limited (AFS) wishes to advise of the resignation of Ms. Deveta McLaren, Manager-Sales & Marketing effective September 30, 2022. AFS would like to take this opportunity to thank Ms. McLaren for the diligence with which she executed her responsibilities and her dedication to the company during her tenure.

PARAMOUNT TRADING (JAMAICA) LIMITED – APPOINTMENT OF HEAD OF PEOPLE & CULTURE, CUSTOMER SERVICE AND MARKETING
Upon the departure of Ms. Maxine Hutchinson on 26th August, 2022, Paramount Trading (Jamaica) Limited on-boarded a Head of People & Culture, Customer Service and Marketing, Dr. Cecile Dennis, to lead the development of people and culture. Her appointment took effect 8th September, 2022.

Key Insurance Company Limited (the Company) is pleased to announce that Mrs. Nichole Case and Mrs. Ashley-Ann Foster Horne were appointed to the Board of Directors of the Company at a meeting held on September 7, 2022.

Barita Investments Limited (BIL) has advised of the appointment of Mr. Ian Anderson to the position of Vice President, Information Technology within the Company, effective  August 1, 2022.

Carreras Limited (CAR) has advised that Ms. Daidrey Miller will be joining the Company in the role of HR Business Partner effective August 15, 2022.

Victoria Mutual Investments Limited (VMIL) has today announced the following changes to its talent pool in line with its robust strategic plan and bold business targets:
Effective September 1, 2022, Mr. Brian Frazer, CFA joins the VM Group as Deputy Chief Executive Officer at Victoria Mutual Investments Ltd and Victoria Mutual Wealth Management Limited. Brian will work closely with Rezworth Burchenson, Chief Executive Officer in accelerating the implementation of the organisation’s bold strategic objectives.
Brian has vast experience in trading, treasury, asset management, risk management, operations, and product development. Brian also has experience developing the strategic direction for investment management and product development for mutual funds, unit trust funds and institutional asset management business lines across the English-speaking Caribbean. Brian has led investment management teams which had responsibility for the management of assets of over US$1.9 Billion on behalf of unit trust funds, mutual funds, pension funds, corporate clients, and individual investors across the region.
Brian earned his undergraduate degree in Accounting and Economics at the University of the West Indies and has received professional training in accounting, asset/liability, and risk management both locally and overseas. Brian is a Chartered Financial Analyst (CFA) Charterholder and is a member of the CFA Institute. He is the founding President of CFA Society Jamaica and currently serves as a Director and the Chair of the Membership Committee of the Pension Industry Association of Jamaica. Brian was also a director of the Caribbean Alternative Investments Association.

GraceKennedy Limited (GKL)Appointment President & CEO – First Global Bank Limited: Radcliffe Daley GraceKennedy Limited (GKL) has advised of the appointment of Mr. Radcliffe Daley as the President & Chief Executive Officer of First Global Bank (FGB) Limited, effective September 1, 2022.
Mr. Daley has been acting in the role since July 18, 2022, following the resignation of Mrs. Mariame McIntosh Robinson from the post. Mr. Daley has over thirty (30) years’ experience in retail, corporate and investment banking. He is supported in the role by FGB’s strong and experienced management team and its Board of Directors, which continues to be chaired by Mr. Peter Moses.

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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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