The Jamaica Stock Exchange at its 29th annual general meeting, yesterday (June 22) named the new Chairman and Deputy Chairman of its Board of Directors for the next year. Mr. Curtis Martin, President of Capital & Credit Merchant Bank and former JSE Deputy Chairman was appointed Chairman and Mr. Leo Williams, International Business Development Manager of JMMB Ltd. is the new Deputy Chairman.
A statement issued by the JSE following the AGM, pointed out that in view of its new corporate governance practices, the organization has dispensed with the position of Executive Chairman which it has had for the last two years.
“There is a significant body of thought that is committed to the view that accountability is diminished when the authority of Chairman and CEO are reposed in one individual. Our governance practices also indicate that given the nature of the organization it was undesirable that the Chairman and the Deputy Chairman serve in those capacities no longer than five and three years respectively. Both the current incumbents have exceeded the term limits and have demitted office.”
Another new appointment, subject to the approval of the Financial Services Commission, is the new independent Board member nominated from the Private Sector Organization of Jamaica, Mr. Jeffery Hall, who replaces Collin Steele.
Other Board Members who were re-elected are: Mr. Christopher Berry; Ms. Dian Black; Mr. Hugh Croskery; Mrs. Rita Humphries-Lewin; Mr. Roy Johnson; Mr. Garth Kiddoe; Mr. Ed McKie; Ms. Hiliary Phillips Q.C.; Mr. Garfield Sinclair; Ms. Faith Stewart; Mr. Don Wehby; Mr. Christopher Williams; Mr. Donovan Perkins. Mrs. Marlene Street-Forrest was re-elected as Company Secretary.
