Corporate restructuring of Angostura

Angostura Holdings Limited (Angostura) has made redundant two positions on its executive management team; Executive Manager of Legal and Executive Manager of Human Resources and Administration, effective August 17, 2017.

These are to be replaced by the new role of Executive Manager of Corporate Services. This meant that for Lyn Lopez, Executive Manager of Legal and Shane Ram, Executive Manager of Human Resources and Administration, last Thursday was their final day on the job at Angostura.

In a statement issued today, Angostura said it "can confirm that, as a result of a commercial performance review of the Company’s operational requirements, we have undertaken a restructuring of our Executive Management Team."

The new person who assumes the new post of Executive Manager of Corporate Services will have "responsibility for services in the areas of legal, human resources, Information and Communication Technology (ICT), administration, property, facilities and security."

"This restructuring re-aligns Angostura’s organisation and management at the Executive level in support of our business objectives, and will improve the Company’s efficiency and profitability. It is an important measure to ensure the competitiveness of the business and to ensure that Angostura is positioned to take advantage of opportunities to expand our business both locally and globally," the company stated.

This follows a notice published in daily newspapers on August 23, in which Angostura announced, "Material Changes Disclosures, pursuant to Section 64 (1) of the Securities Act, 2012."

"Angostura wishes to advise that due to our corporate restructuring exercise, the executive posts of Executive Manager-Legal and Executive Manager-Human Resource have been deemed redundant with effect from August 17, 2017. As a result, Ms Lyn Lopez and Mr Shane Ram have ceased to be senior officers of the company. By order of the Board."

The same day this notice was published, an advertisement was posted on www.caribbeanjobs.com and on Angostura's LinkedIn profile, requesting applications for the post of Executive Manager, Corporate Services.

September 3, 2017 is the cut-off date for submission of job applications.

A check of the job posting on the CaribbeanJobs site revealed that this is a "Permanent full-time" job based in Port-of-Spain but no salary details were "not disclosed."

Under "Description" it reads, "Angostura Limited invites applications for the position of - Executive Manager, Corporate Services. Reporting to the CEO - this role is responsible for the Corporate Services division which provides support and administrative services."

Part of the information under "Role" reads, "A key position in the management team. This hands-on role, is critical to the effective functioning of the Company and has day to day oversight of many aspects of corporate governance and management."

Role also includes the need to "ensure robust integrated management frameworks are operating effectively throughout the organisation to enable achievement of annual and medium term goals of the company, in keeping with its vision."

Six "Duties and Responsibilities" were given; each with details of what they would entail. The overall duties and responsibilities are: Leadership and effective management of Corporate Services; Effective management and oversight of Legal function; Management and supervision of Human Resources department; Effective management and oversight of Information Technology; Effective management and oversight of Administration, Property, Facilities and Security; and Effectively contribute to the strategic and operational development of the company.