(KINGSTON, JUNE 27, 2006) The Jamaica Stock Exchange today (June 27) announced the appointment of Mr. Roy Johnson as Chief Executive Officer, responsible for the organization’s strategic development. Mrs. Marlene Street-Forrest, as the General Manager, remains the JSE’s chief operating officer, in charge of the day-to-day operations of the Exchange. The appointment becomes effective on July 1, 2006.
In making the announcement newly appointed Chairman, Mr. Curtis Martin stated that in this new capacity, Mr. Johnson who has been the Chairman of the Board for four years and Executive Chairman for two years, will be responsible for a number of strategic areas of the Exchange’s development. These include: the de-mutualization of the JSE; implementation of the Fixed Income project and the integration of the regional markets.
“Mrs. Street-Forrest continues to enjoy the full confidence of the Exchange’s Board which has been impressed with the impact of her deliverables on the growth and development of the Jamaica Stock Exchange. Mr. Johnson’s appointment is part of the move towards positioning the Exchange for the future,” Mr. Martin said. The change is evidence of a clear separation between Board and Management which the new de-mutualized organizational structure will necessitate and in keeping with the Exchange’s published Corporate Governance Principles and Practices.
As such the role of the new Chairman is to partner with senior management to achieve the Jamaica Stock Exchange’s mission; provide leadership to the Board and foster the Board’s role in strategic planning.
“We believe that this new structure will enable the JSE to fully realize its mission in enabling the growth and development of the country’s capital market and the actualization of a regional stock market,” he said.
Last week after the 29th annual general meeting, Mr. Curtis Martin, President of Capital & Credit Merchant Bank was named as the new Chairman and Mr. Leo Williams, International Business Development Manager of JMMB Ltd. was elected as the new Deputy Chairman.