Chris Dehring - file photo
The Financial Report has been informed that Jamaican company executive Chris Dehring is tipped to become the new Chairman of Caribbean Cement.
Dehring was among seven new members appointed to the Board of Carib Cement's parent Trinidad Cement Limited (TCL) earlier this week. They replaced six members of the Board who resigned on Monday. Brian Young, who was Carib Cement's Chairman, was among those who stepped down.
In the last few months TCL shareholders had been pushing to get rid of the former board as they were unhappy with the way the company was being run. The company is heavily indebted, owing money to creditors and 100 million dollars to employees for back pay during the period 2009/2011.
Meanwhile, an acting Chief Executive Officer has been appointed at TCL, following the decision to send Dr. Rollin Bertrand on suspension. He is Cemex executive Alejandro Ramirez. He has been a TCL director since October 2012.
Dr. Bertrand was among the six TCL directors who tendered their resignations within hours of the company losing an application to Trinidad & Tobago's Court of Appeal for an injunction that would have stopped the special meeting by shareholders on Tuesday.
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