Chief executive officer of Angostura Holdings Ltd, Laurent Schun, will be operating from Miami, Florida, rather than the company’s Laventille headquarters In Trinidad, starting Monday.
According to a Material Change Disclosure to the T&T Stock Exchange posted this morning, this move is intended to support Angostura’s “key international business development initiatives.”
“As Angostura intensifies its international expansion efforts and prepares to launch its newly styled Premium Rum Range in the global market, the Chief Executive Officer (CEO), Mr. Laurent Schun, with the approval of the Board of Directors, will operate primarily from Miami, Florida, U.S.A.,” the statement read.
“This strategy, which commences on August 26, 2024, will enable the CEO to place increased focus on key international business development initiatives,” it continued.
Angostura has been producing rum for more than 75 years and is now one of the most respected rum producers in the world. Their rums have gained the accolade of having the world’s most awarded rum range.
To support this global expansion strategy, the following executives will manage local operations starting August 26 until further notice:
Ian Forbes – Chief Operating Officer
Rahim Mohammed – Executive Manager, Business Efficiency and Shared Services
Kathryna Baptiste Assee – Group General Counsel/Corporate Secretary
Schun joined was appointed Angostura’s CEO on January 23, 2023.
In its most recent financial statements, Angostura recorded an after-tax profit of $66.2 million for the half-year ended June 30, marking a 15% decrease when compared to the corresponding six months last year.
For the half-year ended June 30, 2023, Angostura recorded a profit of $77.8 million.
Chief Executive Officer of Angostura Holdings Ltd, Laurent Schun
