Jun 2018 Financial News

GraceKennedy Limited - Press Release re New Strategic Focus

Jun 01, 2018

GraceKennedy Group looks to 2022

(Kingston, Jamaica; May 31, 2018) 

At GraceKennedy Ltd.’s Annual General Meeting, held on Wednesday, May 30 at the Company’s Harbour Street, Kingston Headquarters; Don Wehby, Group CEO, signalled to shareholders some of the strategic plans for the Company in the lead up to its 100th year anniversary in 2022.

“GraceKennedy maintains that in order to remain innovative and successful in the global market place, the Company must be forward-looking to achieve an agile, efficient and high-performing structure. The Executive Leadership of the Company has made a firm commitment to optimise the Group structure for improved performance and shareholder value, delivered by a highly skilled and motivated workforce,” Wehby said.

It was disclosed that London Consulting Group a consulting firm who had worked with the likes of Nestlé and ING had been engaged to work with the GK team to assist with finding ways to achieve improved productivity and maximize efficiencies across the Group.

“As I stand here in front of the owners of the Company I know we must review the organisational design of GraceKennedy to see how we can improve productivity and increase efficiencies. You have our commitment that this great Company of yours will be even better when we celebrate our 100-year Anniversary in 2022,” Mr Wehby said.

Some of the priorities identified for the Company include: embedding lean management practices for increased efficiency; facilitating empowered and autonomous subsidiaries to foster entrepreneurship; maintaining strong corporate social commitments though the Foundations; consistent pursuit of innovation and new growth opportunities; and inculcating a customer centric culture throughout the Group.

Mr Wehby also indicated that 2018 is expected to be a very successful year and the Company has set for itself an aggressive target of achieving a record-breaking J$100

Billion in revenues by year end.

Contact: Klao Bell-Lewis
Head of Corporate Communications
876-809-1121
klao.bell-lewis@gkco.com

Source:
The Trinidad and Tobago Stock Exchange Limited
Friday June, 1 2018