Sep 2015 Financial News

GraceKennedy Limited - Executive Changes within GK Foods

Sep 25, 2015

GK Group CEO Announces Executive Changes within GK Foods

Changes become effective October 1, 2015

Kingston, Jamaica, September 24 – GraceKennedy Group CEO Don Wehby has announced that there will be changes to the Executive Leadership within GraceKennedy Foods effective October 1, 2015 as part of the Group’s succession and transition planning.

Current CEO of GraceKennedy Foods – North America and CEO/President of GraceKennedy Foods (USA) LLC, Michael Ranglin, will return to Jamaica, and has been appointed Executive Chairman of GraceKennedy Properties Limited. In this position, Mr Ranglin, an Engineer by profession, will have as a major responsibility, oversight of the development of GraceKennedy’s US$25 Million multi-storey complex, which will include GraceKennedy’s new Corporate Offices on the Kingston Waterfront property recently acquired by the Company. Mr Ranglin will continue to report directly to the Group CEO.

“The establishment of GK’s new Head Office at the Kingston Waterfront property is a very important project for the GraceKennedy Group and for downtown Kingston. It is an extremely time sensitive and technical project and given its significance we have asked Michael to take this on so that we may benefit from his skills and expertise in this area,” said Mr Wehby.

Ryan Mack, current CEO of GraceKennedy Foods – Jamaica (Domestic), Caribbean and International East as well as Managing Director of Grace Foods UK, will now take on the role of CEO/President of GraceKennedy Foods (USA) LLC. He will also be appointed CEO of International Business for GK Foods, a title which will give him responsibility for all of GK’s Foods businesses outside of Jamaica. He will report directly to the Group CEO. As Ryan Mack assumes his new role in the United States, Adam Reader, presently Chief Financial Officer for the operations of Grace Foods UK will assume the position of Acting Managing Director of Grace Foods UK.

Andrea Coy, current Senior General Manager for the Global Category Management Unit of Grace Foods will be appointed CEO of GraceKennedy Foods – Jamaica (Domestic), spanning Hi-Lo, Grace Foods & Services (GFS), World Brands and the factories operated by GraceKennedy in Jamaica. She will continue to have responsibility for the Global Category Management Unit (GCMU). Both Senior General Managers in Jamaica – Gilroy Graham (in charge of Grace Foods and Services) and Andrew Ho (in charge of Manufacturing), will report to Mrs Coy. She will report directly to the Group CEO.

“We had stated earlier this year that we wanted GraceKennedy to be a more nimble company, to be able to change or adapt as quickly as things and times change. We believe these changes to be timely and are happy that we have the resources to allow us to take advantage of new opportunities as they arise, in the best interest of GraceKennedy,” said Mr Wehby.

He continued, “I have always said that GraceKennedy has one of the best teams in the world and our ability to make these changes demonstrates that. I am proud to have a team with such depth that they can be deployed in the segments of the business where they are most needed to make the greatest contribution to GraceKennedy’s growth. I know that the team in GK Foods will do exceptionally well in their new roles.”

Contact: Simone Clarke-Cooper, Group Chief Corporate Communication Manager

Tel: (876) 932-3174 (office)
       (876) 809-1121 (cell)

Source:
The Trinidad and Tobago Stock Exchange Limited
Friday September 25, 2015