Another Massy executive resigns

MASSY HOLDINGS has announced the resignation of another executive, this time executive vice president of global expansion David O’ Brien.

A notice of change of senior officer issued on the TT Stock Exchange’s website said O’Brien announced his intention to resign on March 8. His resignation will take place on June 8.

In December executive vice president in charge of business integrity and group general counsel Angelique Parisot-Potter resigned, after an investigation was launched into claims of misuse of foreign exchange and other practices of the leadership at the group’s 100th annual general meeting.

She took particular issue with what was described as a “leadership programme,” which involved frequent travel to Fort Myers, Florida. She claimed executives engaged in rituals which trained employees to communicate with the dead and to self-heal with “white light energy.”

Massy has since denied the claims and sought disciplinary measures against Parisot-Potter on the grounds that she publicly disclosed matters confidential to the company.

In February group CEO Gervase Warner announced his retirement on April 6, to be succeeded by the group’s executive vice-president David Alfonso. No reason was given for his retirement, which came a year early. He was lauded as a forward-thinking leader who was instrumental in driving the group’s profitability.

For the financial year ending September 30, 2023, Massy reported a five per cent decline in profits to $813 million.