Connect with us

Businessuite News24

GraceKennedy CEO Don Wehby Announces Senior Management Changes

Published

on

As the Company continues to streamline its structure in alignment with its 100th Anniversary objectives, GraceKennedy Group CEO Don Wehby is announcing changes at the Senior Management level, which will take effect on April 1, 2019. The changes form part of an ongoing transformation process announced by the company in August of last year. GK will celebrate 100 years in 2022.

“In this constantly changing operating environment, our goal Is to create an agile, efficient and high performing company in order to deliver on our vision of becoming a Global Consumer Group,” Mr. Wehby said. He added, “We have taken a long, critical took at our structure, and are confident that these changes are in the best interest of the GraceKennedy Group, and will position us for sustainable revenue growth and significant profitability.”

With respect to its Executive Office, GK’s current Group Comptroller, Andrew Messado, will be appointed Group Chief Financial Officer (CFO). A Fellow and Lifetime Member of the Institute of Chartered Accountants of Jamaica, (ICAJ), Mr. Messado has been working with GraceKennedy for 20 years.

Current GK Group CFO, Frank James, will assume the role of CEO, Domestic Foods Division. He will have responsibility for GK’s distribution and retail markets in Jamaica, spanning Grace Foods & Services, World Brands, Consumer Brands, Hi-Lo Food Stores and GCs six factories islandwide. Mr. James will replace Ryan Mack, who proceeds on retirement in March. “Ryan has served GraceKennedy with commitment and distinction. We’re really grateful to him for his contribution to building and growing the Grace brand both locally and overseas’ Mr. Wehby said.

Lee-Anne Bruce will be appointed Chief Compliance Officer for the GraceKennedy Group and will report to the Group CEO. According to Mr. Wehby, “This change in the area of compliance is reflective of GraceKennedy’s continuing commitment to having a best-in-class compliance framework, which we know will give us a competitive advantage.”

Along with Frank James’ appointment as Head of Domestic Foods, other senior management changes will be effected both locally and in the overseas Food Division. On the sates and distribution side, Tamara Thompson, current General Manager (GM) for both World Brands Services and Consumer Brands, will be appointed General Manager for Grace Foods & Services (GFS), while Magion Stephenson will be appointed Deputy General Manager, Mrs. Thompson will retain responsibility for Consumer Brands Limited, while current General Manager of Hilo, Renee Nathan will replace her as GM of World Brands. Mrs. Nathan will be succeeded by Cathrine Kennedy, who is being appointed GM for the company’s chain of 13 supermarkets island-wide.

In the overseas market, in addition to retaining his position as President, Grace Foods — Canada, Lucky Lankage will be appointed Chief Operating Officer (COO) for International Foods, and will continue to report to International Foods CEO, Andrea Coy. Mr. Lankage will also assume responsibility for Belize, and Latin America and the Caribbean (LACA).

With regard to its Financial Division, in addition to her current role as the CEO of the GraceKennedy Financial Group (GKFG), Grace Burnett will also assume the position of President and CEO of GraceKennedy Money Services (GKMS), which encompasses the brands Western Union (WU), Bill Express and FX’ Trader. Mariame McIntosh Robinson, President & CEO of First Global Bank, will now report to Mrs. Burnett.

Current GKMS Head, Michelle Allen, will retire at the end of March. “Michelle has given loyal and outstanding service to GK for over 20 years, contributing significantly to the growth of the Money Services businesses, I wish her every future success’ Mr. Wehby said.

Steven Whittingham will be appointed COO of GKFG, and assumes direct responsibility for GIC’s insurance business locally and region-wide, while retaining responsibility for GK Capital Management. Current General Manager of GK General Insurance (GKI), Andrew Leo-Rhynie, will be appointed Managing Director for GK Capital Management, with Chaluk Richards assuming the GM position at GKI. Tammara Giaves Hucey, whilst retaining her current rote at GKI, will also assume the role of GM of GKI Eastern Caribbean.

According to Mr. Wehby, it’s a very positive and exciting time in GK’s history, and we are ensuring that the company is well-poised to take its operations to the next level in the years ahead. We are extremely optimistic about the future of this great company, and are confident that we have the right strategy, resources and most importantly, the people to achieve our goal of being a $100 billion company by 2022, while remaining true to our values of honesty, integrity and trust.”

Businessuite News24

GCT Exemption Threshold for MSMEs Increased to JA$15 Million

Published

on

The Government of Jamaica has announced an increase in the General Consumption Tax (GCT) exemption threshold from $10 million to $15 million for micro, small and medium-sized enterprises (MSMEs).

Minister of Finance and the Public Service, Hon. Fayval Williams, in opening the 2025/26 Budget Debate in the House of Representatives on March 11, said the change is aimed at supporting the growth and development of small businesses.

Mrs. Williams said the latest figures from the Small Business Association of Jamaica (SBAJ) show that there are an estimated 422,000 registered small businesses in Jamaica, generating 80 per cent of the jobs in the Jamaican economy.

“This means 1,136,240 persons in our workforce are employed by MSMEs,” the Finance Minister noted.

In addition, the Minister said the Government has allocated $2 billion to support MSMEs.

“[The sum of] $2 billion is in the Budget for the Development Bank of Jamaica (DBJ) to allow them to continue to facilitate sustainable growth of start-ups and MSMEs, and to continue to support women-led initiatives, entrepreneurship training, including digital skills bootcamp,” she outlined.

The DBJ is a public body in the Ministry of Economic Growth and Job Creation that channels financing to MSMEs, as well as large projects, to facilitate economic growth and development.

“It will continue to pursue innovative means of mobilising funding and leveraging private-sector investment and expertise through its venture capital programme, as well as public-private partnerships and privatisation transactions,” Mrs. Williams said.

Continue Reading

Businessuite News24

JA$2 Billion in Support to Jamaican MSMES

“Small business owners have said to me that opening a bank account for their business is difficult. They feel there’s no difference between the requirements for them as MSMEs, as opposed to a very large institution,” she noted.

Published

on

The Development Bank of Jamaica (DBJ) has been allocated $2 billion in the 2025/26 Estimates of Expenditure to support funding to the micro, small and medium-sized enterprise (MSME) sector.

Minister of Finance and the Public Service, Hon. Fayval Williams, made the disclosure while delivering the opening presentation in the 2025/26 Budget Debate in the House of Representatives on Tuesday (March 11).

“It (the DBJ) will continue to pursue innovative means of mobilising funding and leveraging private-sector investment and expertise through its venture capital programme, as well as public-private partnerships and privatisation transactions,” she informed.

Mrs. Williams noted the Government’s commitment to the MSME sector, which includes an estimated 422,000 registered small businesses, generating 80 per cent of the jobs in the economy.

Approximately 1,136,240 persons are employed by MSMEs.

The Minister acknowledged that there are several issues facing the sector, including lack of equitable access to financing, high interest rates and cumbersome requirements for opening bank accounts.

“Small business owners have said to me that opening a bank account for their business is difficult. They feel there’s no difference between the requirements for them as MSMEs, as opposed to a very large institution,” she noted.

She pledged to work with Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill, to reduce the requirements for the entities to open bank accounts.

The Finance Minister noted, further, that Government will be increasing the General Consumption Tax (GCT) exemption for small businesses from $10 million to $15 million.

By: Donique Weston JIS

Continue Reading

Businessuite News24

Jamaica Open For High-Value Agricultural Investments – Minister Green

“Now is the time for high-value agricultural investment, right here in Jamaica. Things that we produce in Jamaica are sought after all over the world. As such, we do believe there are significant opportunities now in agro processing,” Mr. Green said.

Published

on

Jamaica is being touted as a prime destination for high-value agricultural investments.

Minister of Agriculture, Fisheries and Mining, Hon. Floyd Green, highlighted that the country is at a pivotal stage in its transformation, pointing out that the Ministry’s key objectives are to drive investment, expand trade, and strengthen food security.

“To achieve this objective, the nation must collaborate with its international partners,” he told members of the Diplomatic Corps on Wednesday (March 12).

Minister Green said Jamaica, having seen a declining debt-to-GDP ratio and myriad other positive economic outcomes in recent years, is well positioned to take advantage of global opportunities.

He was speaking during a Ministerial Briefing at the Ministry of Foreign Affairs and Foreign Trade in downtown Kingston, which formed part of activities marking Diplomatic Week 2025.

Mr. Green said while Jamaica currently benefits from several trade arrangements with its regional partners, the Government wants to expand the global footprint in trade and investment.

“What we want to see from my Ministry’s perspective [is] how we can leverage these arrangements to do much more. As such, we want to work with you (the diplomatic corps) to drive trade expansion, to reduce market barriers and to facilitate direct connections with importers and distributors so that we can expand our exports,” the Minister outlined.

He added that there are significant investment opportunities and win-win proposals for Jamaica and its partners.

“Now is the time for high-value agricultural investment, right here in Jamaica. Things that we produce in Jamaica are sought after all over the world. As such, we do believe there are significant opportunities now in agro processing,” Mr. Green said.

The Minister emphasised that one area now ripe for investments is orchard crop farming.

“We do have land available for investment in orchard crops. In fact, we’ve developed our first ever mango orchard, or mango agro park, where we invite private-sector investors to come in and establish 50-acre blocks of mango farms. That is going well. In fact, we’ve already established about 200 acres. We want to establish another 300 acres in this financial year,” the Minister outlined.

Mr. Green also touted opportunities in livestock farming and the dairy industry, noting that Jamaica is looking to leverage partnerships in this area.

“We want to facilitate greater bilateral discussions between you and your home countries with Jamaica’s agricultural sector around investment… around connecting investors with local projects that can accelerate economic growth,” he told the diplomats.

Mr. Green pointed out that Jamaica’s collaboration with its international partners has been instrumental in advancing the nation’s economic agenda.

By: Donique Weston, JIS

Photo: Yhomo Hutchinson

Continue Reading

Businessuite News24

Powering the Future: How Tech and Policy Are Driving Explosive Growth in Energy Storage, Renewables, and EVs

Published

on

The energy storage, renewable energy, and electric vehicle (EV) industries are experiencing significant growth, driven by technological advancements and policy support.

Energy Storage Sector

The global energy storage market is projected to expand from USD 416.02 billion in 2025 to USD 841.19 billion by 2033, reflecting a compound annual growth rate (CAGR) of 9.2% (Straits Research, 2024). This growth is primarily attributed to the increasing integration of renewable energy sources and the need for grid stability. In the United States, battery energy storage capacity is expected to nearly double by 2024, reaching over 30 gigawatts (U.S. Energy Information Administration, 2023).Mission-Critical Energy Storage Battery Pack Sector.

Mission-Critical Energy Storage Battery Pack Sector

The demand for mission-critical energy storage solutions is intensifying, particularly in sectors requiring an uninterrupted power supply, such as data centres and healthcare facilities. The U.S. battery energy storage system market is anticipated to witness a CAGR of 30.5% from 2024 to 2030, reaching USD 4.4 billion by 2030 (Grand View Research, 2023). This surge is driven by the need for reliable backup power and the integration of renewable energy sources into critical infrastructure.

Renewable Energy Industry

The renewable energy sector is undergoing rapid expansion. In 2024, the United States added 48.2 gigawatts of solar, wind, and battery storage capacity, a 47% increase from the previous year (The Guardian, 2025). Declining costs and supportive policies like the Inflation Reduction Act 2022 propel this growth. Globally, China has made significant strides, adding clean energy generation in the first half of 2024, equivalent to the entire electricity output of the United Kingdom for the previous year (The Guardian, 2024).

Electric Vehicle Industry

The EV market is expanding swiftly. In 2023, electric cars accounted for approximately 18% of all vehicles sold globally, up from 14% in 2022 (International Energy Agency, 2024). Projections indicate that by 2024, 25% of all new passenger car registrations will be electric, surpassing 17 million units in sales worldwide (GreenMatch, 2024). This trend is supported by technological advancements, increased consumer acceptance, and policy incentives to reduce carbon emissions. These industries are experiencing robust growth, driven by technological innovation, policy support, and a global shift towards sustainable energy solutions.

Extracted from Alexander Melville Chief Executive Officer Tropical Battery Company Limited (TROPICAL) – Interim Financial Statements For The First Quarter Ended December 31, 2024

Continue Reading

Businessuite Women

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

Published

on

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.

Continue Reading

Trending

0
Would love your thoughts, please comment.x
()
x