Derek Jones, New Non-Executive Chairman
Kingston Wharves Limited
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The Board of Directors of the Kingston Wharves Group has appointed Mr. Derek Jones as its Non-Executive Chairman, effective July 1, 2010. Chief Executive Officer (CEO) and former Chairman, Mr. Grantley Stephenson, who straddled both roles since 2004, will continue as a director of the board and as CEO with complete responsibility for the day to day running of the Group
In 2004, the Board of Directors decided to merge the roles of Chairman and Chief Executive Officer (CEO) as it was felt that this was the optimum structure to serve the best interest of the Kingston Wharves Group at the time. After recent review, the Board of Directors on the recommendation of the Corporate Governance Committee decided to separate these roles.
This decision is in keeping with the Group’s commitment to adopt corporate governance best practices.It is also a response to the changing business environment in which the Group now operates and to allow the CEO more time to focus on the strategic direction of the Group and dedicate his full time and attention to growing the businesses.
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Commenting on the appointment, Mr. Stephenson said “ I am looking forward to collaborating with Mr. Jones as we strive to propel the growth of the Company.”
Mr. Jones has served as a director of the Kingston Wharves Group for the last 8 months and fills a number of official roles at an array of organizations. He is an Attorney-at-Law and the Senior Partner of Myers, Fletcher & Gordon. He has served as a member of the Disciplinary Committee of the General Legal Council in Jamaica, Chairman of the Tribunal for Breaches under the Rules of Horse Racing, Vice President and as President of the Jamaican Bar Association. Currently, he is the Chairman of the Cable and Wireless Jamaica Pension Fund, the Red Stripe Pension Fund and the Jamaica College Trust. He is a Director of Caribbean Cement Company, as well as MF&G Trust & Finance Ltd., a financial institution regulated by the Bank of Jamaica. In addition, he is a Trustee of the Urban Development Corporation Pension Fund. Mr. Jones is the Honorary Consul for Sweden in Jamaica and also the Honorary Legal Advisor to the British High Commission in Jamaica.
The Kingston Wharves Group embraces this new era of leadership and anticipates continued success.
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Contact:
Simone Murdock
Group Marketing Executive
Tel: (876) 514.5512 | 923.9211
Mobile: (876) 322.4021 Fax: (876) 923.5361
email: simone.murdock@kwljm.com
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