( L - R ) Jeffrey Hall and Dr. Marshall Hall

Dr. Marshall Hall is to step down as head of the Jamaica Producers (JP) Group after 28 years at the helm of the country's largest commercial grower and exporter of bananas.

Dr. Hall made the announcement yesterday. Charles Johnston, chairman of JP, said Hall would remain a director of the company. According to Mr. Johnston, "Dr. Hall has been an outstanding leader of JP, (which) has seen very significant and positive changes during his time as the CEO, and we want to ensure that his expertise is still available to the group."

Jeffrey Hall has been appointed to succeed as chief executive officer of the company effective July 1. He currently serves as divisional director of JP with responsibility for the group's banana, fresh produce and shipping businesses.

Turnaround to profitability

He is credited with leading the rebuilding of the group's banana businesses and delivering a turnaround to profitability after the crop's destruction by hurricanes Ivan, Dennis and Emily in 2004 and 2005. In 2006, Jeffrey Hall served as the lead executive on a series of transactions that saw JP exit its U.K. fresh produce and banana distribution business (in a J$2.75 billion sale to the Dole Food Company) and expand its U.K. logistics arm.

He received a master's in public policy (international finance) and juris doctorate, with honours from Harvard University. He also received a first degree in economics, with highest honours from Washington University.

Looking ahead, he said: "I look forward to the challenge and I am confident that our team is ready to embrace the necessary changes." He added: "We have a good team, a strong balance sheet and a strong market presence in the U.K. food sector. We will, however, have to aggressively restructure certain aspects of our business in order to take best advantage of the opportunities available to us."