CURTIS MARTIN, president of Capital & Credit Merchant Bank and former Jamaica Stock Exchange (JSE) deputy chairman was appointed chairman at the JSE's 29th annual general meeting last Thursday.
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 organisation has dispensed with the position of executive chairman, which had been held by Roy Johnson 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 chief executive officer is reposed in one individual," the JSE statement said. "Our governance practices also indicate that given the nature of the organisation, 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 by the Private Sector Organisation of Jamaica, Mr. Jeffery Hall, who replaces Collin Steele.
Other board members who were re-elected are: Christopher Berry; Dian Black; Hugh Croskery; Rita Humphries-Lewin; Roy Johnson; Garth Kiddoe; Ed McKie; Hiliary Phillips Q.C.; Garfield Sinclair; Faith Stewart; Don Wehby; Christopher Williams; Donovan Perkins. Marlene Street-Forrest, was re-elected as company secretary.
