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Ricardo Nuncio replaces Cedric Blair as Red Stripe Managing Director (with Audio)

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Despite stating that he will remain as Managing Director of the Red Stripe brand following Heineken’s increase in shares in the company last month, Cedric Blair has been replaced by Ricardo Nuncio.

Instead, effective this Thursday, Blair will begin his appointment as General Manager, Caribbean and Central America, DIAGEO WestLAC. Speaking to the Businessuite Team following last week’s Red Stripe Annual General Meeting, Blair said this had always been the intention.

Blair says he is however confident that he will be successful in his new role.


Cedric Blair

Blair who ends his appointment as Managing Director of Red Stripe on Wednesday, says he is confident that Nuncio will be an adequate replacement.

Meanwhile, Nuncio joins the Red Stripe team from Heineken Mexico, the biggest operating company of the HEINEKEN Company. He is Regional Sales Director, having held this position since January 2014, with responsibility for the South Region (Morelos, Guerrero, Oaxaca and Chiapas) which accounts for 6% of national volume and 3% of national EBIT.
Nuncio was accountable for a team of +1,400 people across 4 states and 35 distribution centers. Under his leadership he implemented a recognition programme, “Meritocracy” that aims at building a high performance culture. In 2014 he delivered 11% growth in volume, 105% growth in EBIT, 28% growth in Heineken brand, and gained 2 points of market share. BM

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John Mahfood “I Listed on the JSE to Raise Capital for My Business”

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JSE Online Trading Platform

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Grace Stockholders To Vote On 3-for-1 Stock Split Today

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Shareholders of GraceKennedy Limited will this morning meet to consider and, if thought fit, approve a recommendation for a three-for-one stock split.

If approved, shareholders will receive three stocks for each one that is currently held.

According to group CEO Don Wehby, the stock units with a market price of J$115.00 per stock unit prior to the split will now increase threefold with an initial price of J$38.33 per stock unit

He says the stock split would allow GK’s stock to be made available to more investors while further enhancing the market for the shares.

Ahead of this morning’s Extraordinary General Meeting, GK last week issued 59,360 additional GK shares.

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UK Loses S&P Triple A Rating

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The UK has lost its top AAA credit rating from ratings agency S&P following the country’s vote to leave the EU.

S&P says the referendum result could lead to “a deterioration of the UK’s economic performance, including its large financial services sector”.

Earlier the pound plunged to a 31-year low against the dollar, and UK markets closed lower for a second day. On Friday,

Moody’s cut the UK’s credit rating outlook to negative.

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Caribbean Hotels Named In Jetsetters’ 2016 Best Of The Best

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Three Caribbean hotels have been named in US-based travel and lifestyle magazine Jetsetter’s 2016 Best of the Best awards.

The list which was published recently, highlighted the world’s 20 best hotels in categories ranging from Best Over-The-Top Luxury to Best Safari Lodge.

Included in the list were Antigua and Barbuda’s Barbuda Belle Luxury Beach Hotel, Anguilla’s Zemi Beach House Resort & Spa, and St Lucia’s BodyHoliday.

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