Grace, Kennedy – Reduction of Board size

Posted: October 17, 2001 at 12:00 am

The company has reduced the size of the Board of Directors significantly from the current 22 members to 12, following decisions taken at a retreat of its Executive Directors held recently. According to Chairman and CEO, Senator Douglas Orane deciding on the optimal size of the Board of Directors which would ensure its maximum effectiveness to the company, was one of the areas examined critically by participants at the Retreat. “The reality is that our business environment has changed dramatically since the company moved from a small to a large board structure over twenty years ago,” Senator Orane explained.

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