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Professor Thomas confirmed as GuySuCo Chairman for next two years
Government has approved a new Board of Directors for the Guyana Sugar Corporation Inc. (GuySuCo) with Professor Clive Thomas named as Chairman.
Professor Clive Thomas
Thomas will lead the 11-member board for the period May 1st, 2016 to April 30th, 2018, according to the Official Gazette of May 13th.
Thomas was named to head the board late last year, but the arrangement was said to be of a temporary nature.
The other members of the board are Permanent Secretary of the Ministry of Agriculture, George Jervis; Louise Bouyea; Anthony Vieira; Fritz Mc Lean; accountant Nizam Ali; John Browman; Sharon Roopchand-Edwards; Nigel Cumberbatch; a representative from the union and one from the Parliamentary Opposition.
All eyes have been on the state-owned GuySuCo for a number of years now after a string of poor performances.
With over 16,000 workers and estates in Demerara and Berbice, the entity has been struggling to pay its loans and meet its sugar supply quota with its European customer. It is producing sugar at twice the cost it is selling for and many of its factories are in dire need of retooling.
A new factory at Skeldon has been failing to deliver, and decisions have been taken to complete merging of the LBI estate with that of Enmore, on the East Coast of Demerara and Wales with Uitvlugt, West Demerara, as part of cost-cutting measures.
Last year, the entire Board of Directors, with his Chief Executive Dr. Raj Singh, was sacked by the new administration for poor performance.
GuySuCo managed to reach its original annual production target for the first time in a decade, at the end of last year.
Meanwhile, the Official Gazette has also named a new Board for the Hope Coconut Industries Limited for the period of May 1st, 2016 to April 30th, 2017.
The Chairman is Raymond Trotz while the members are Dwight Walrond; Ida Sealey-Adams; Holda Poonai; Aaron Ramroop; Timothy Inniss; Cecil Seepersaud, with Omadatt Chandan named Secretary.
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