Jun 2012 Financial News

NFM looking for a chief executive

Jun 08, 2012

Food producer National Flour Mills (NFM) is expected to start a new search for a chief executive after Brian Frontin—the man selected to lead the company—declined the job.

Frontin, a corporate banking manager, was expected to start work at the majority State-owned company on June 1.

However, on the same day he was expected to start, the Express understands he emailed NFM chairman Jacqueline Burgess declining the position.

On Monday, the email was forwarded by Burgess to board members.

Contacted on Tuesday, Burgess stated: "I do not wish to discuss the matter."

Frontin's selection for the chief executive officer's position was opposed by several directors on the NFM board.

Seven of the company's nine directors were opposed to his appointment based on what they described as an "improper selection".

They recently wrote two letters to Prime Minister Kamla Persad-Bissessar about their concerns.

The directors' position has been that after it short-listed CEO candidate and former Education Facilities Company Ltd (EFCL) chairman Ronald Philip, he received negative press and the board should have voted again on who should be selected as CEO. Instead, the directors claimed that Burgess selected Frontin, who had secured the second highest number of votes, without their additional input.

Frontin is the chairman of Evolving Tecknologies and Enterprise Development Company Ltd (e TecK) and its subsidiaries InvestTT and Asset Optimization Company Ltd as well as chairman of the Trinidad and Tobago Hotel Facilitation Company Ltd.

The State enterprises, along with NFM, fall under Trade Minister Stephen Cadiz.

Following a report in the Sunday Express on May 26, Cadiz met with the board to resolve the issue but the majority of the board remained opposed to the appointment.

NFM has not had a confirmed chief executive since 2009 after Neil Rollingson resigned.

All subsequent appointments to the posts were in an "acting" capacity.

Cheryl Edwards is currently acting chief executive of NFM.

Frontin could not immediately be reached for comment.


Source:
By Asha Javeed asha.javeed@trinidadexpress.com
Trinidad Express
Wednesday June 6, 2012

http://www.trinidadexpress.com/news/NFM_looking_for_a_chief_executive-157668065.html