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Financial News

Jul 2012 Financial News

Orane appointed non-exec chairman of GraceKennedy

Jul 04, 2012

Douglas Orane has been appointed chairman of Grace-Kennedy Limited, a new role that strips him of all executive functions at the conglomerate.

His previous title was executive chairman for a year, and before that he was chairman and chief executive officer up to June 30, 2011.

Orane's new appointment is for 18 months, starting July 1, 2012.

He has worked with the GraceKennedy group since 1981, took over as CEO in 1995 and was given the added title of chairman on March 26, 1998.

"Under his guidance, Grace-Kennedy has articulated a vision of transforming itself from a Jamaican trading company into a global consumer products and services group by the year 2020," said GraceKennedy in a company issued statement in praise of Orane.

"His insistence on benchmarking to the best companies internationally has contributed to GraceKennedy's success, and its continued profitability, even in an unpredictable Jamaican economy."

Orane, who is now 64, stepped down as head of the conglomerate before he reached the company mandated retirement age of 65 to allow for a smooth transition of leadership, which passed to one of his primary lieutenants, Don Wehby, last year.

GraceKennedy is a 90-year-old conglomerate whose operations span 60 subsidiaries in the Caribbean, United Kingdom, Central America and North America; and Orane has worked with the company for 21 of those years.

Jamaica Gleaner
Wednesday July 4, 2012