Par­ris Lyew-Ayee new Caribbean Ce­ment chair­man

Jamaica Gleaner - - BUSINESS - Busi­ness@glean­erjm.com

CH R I S T O P H E R DEHRING has given up his seat and the chair­man­ship of Caribbean Ce­ment Com­pany Lim­ited and its sub­sidiary com­pa­nies, ef­fec­tive Oc­to­ber 5. He has been re­placed as chair­man by Par­ris Lyew-Ayee, who now heads the boards of Caribbean Ce­ment, Ja­maica Gyp­sum and Quar­ries Lim­ited, Caribbean Gyp­sum Com­pany and Rock­fort Mineral Bath Com­plex Lim­ited.

Dehring also re­signed as a di­rec­tor of Trinidad Ce­ment Lim­ited, Caribbean Ce­ment’s par­ent com­pany. He first gained seats on those boards in 2014, fol­low­ing a takeover of the TCL board in Trinidad by dis­grun­tled share­hold­ers who were dis­sat­is­fied with the ex­e­cu­tion of a debt-re­struc­tur­ing pro­gramme ne­go­ti­ated with se­lect cred­i­tors.

One of the lead­ers of that re­volt, Wil­fred Espinet, was elected chair­man of TCL. The ce­ment com­pany im­ple­mented a dif­fer­ent fi­nanc­ing pro­gramme in the wake of the changes, one that re­sulted in Ce­mex of Mex­ico dou­bling its stake in TCL last year.

The cur­rent head of Caribbean Ce­ment Com­pany, Ale­jan­dro Vares, was sub­se­quently pulled from among ex­ec­u­tives of Ce­mex to run the Ja­maican plant in Kingston.

Lyew-Ayee, who is a baux­ite ex­pert em­ployed to the state as head of the Ja­maica Baux­ite In­sti­tute, has served on the ce­ment com­pany’s board since 2006.

His pre­de­ces­sor Dehring is a for­mer in­vest­ment banker­turned-tele­coms ex­ec­u­tive, who pre­vi­ously chaired the Ja­maican arm of Cable & Wire­less and was an ex­ec­u­tive of Cable & Wire­less Com­mu­ni­ca­tion. He is cur­rently head­ing up a new busi­ness, a cable ser­vice called ReadyTV, which at last re­port was ex­pected to roll out by year end.

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