The JN Group has acknowledged that managerial shortcomings were a key contributor to its weak performance over the last three years, but says recent changes to its management structure are expected to drive greater operational efficiency.
That assessment is echoed in a recent report from Caribbean Information and Credit Rating Services (CariCRIS), which noted that the group has undergone significant structural reforms, including the reorganisation of its boards and subcommittees.
According to the ratings agency, the Finance Committee has now assumed a primary responsibility for group-wide risk management, supported by strengthened risk and audit units.
CariCRIS said the revised governance framework establishes clearer checks and balances at a particularly sensitive period for the group.
However, the agency also highlighted other major challenges facing the JN-structured team.
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