|Quoting guyanam (Reply 1):|
Is BWs new board any better than the old one?
I'm glad you asked and I'm pleased to say yes......very much so. The events leading up to the change required nothing less than a 180 degree turn around in the GORTT's attitude towards running the company. They are currently very embarassed with the whole situation and have left Finance Minister Larry Howai a big mess to clean up. That said, Howai is probably the only credible person in the current GORTT with his private sector background and his many awards for his leadership style in the banking sector. That said, he did not seek Cabinet approval to remove the board nor did he seek the approval of the persons he selected for the interim board. This demonstrates his no nonsense attitude from hence forth because he has publicly accepted responsibility for CAL's mess as it now falls under his purview.
That said, the members of the new interim board are as follows:
Phillip Marshall (director of Strategic Management Office at Finance Ministry)
Vishnu Dhanpaul (permanent secretary at Ministry of Energy)
Indira Ramkissoon (attorney, current board member Occupational Safety and Health Authority)
Patricia Kong-Ting (finance and risk management consultant)
Dennis Lalor (Jamaican business tycoon).
Howai Takes Blame (with CNC3 video)
"Former independent senator Phillip Marshall was yesterday given the responsibility to take Caribbean Airlines into clearer skies. In making the announcement yesterday, Finance Minister Larry Howai said an interim board headed by Marshall had been given a fresh mandate to restructure the cash-strapped airline. Marshall’s unit replaced the old board led by businessman Rabindra Moonan.
Jamaican government representative Dennis Lalor was the lone survivor of the old board. Moonan, CAL vice-chairman Mohan Jaikaran, Avedanand Persad, Venosh Sagewan-Maraj and Gizelle Russell are all gone. The decision to disband the old board followed a T&T Guardian exclusive report on May 8, which revealed Jaikaran had allegedly received 19 complimentary airline tickets for Mother’s Day concerts in New York and Toronto last week."
"Air Jamaica not to blame for CAL’s losses"
"The only Caribbean Airlines (CAL) director who wasn’t fired from the board yesterday says he’s very concerned about the financial health of the national carrier.
The surviving director, Jamaican businessman Denis Lalor, told the Express yesterday shortly after the CAL board was fired by Finance Minister Larry Howai that he does not believe the acquisition by CAL of Air Jamaica’s routes in 2011 was the reason the company has found itself facing multi-million-dollar losses.
Lalor was the only member of the former CAL board to be included in the new composition, which was announced by Howai yesterday after the board was fired.
Lalor said he was informed there would be changes to the board, and he was hopeful the new board would turn the company around."
"CAL board sacked"
"SAYING he accepts blame for governance systems at national carrier, Caribbean Airlines Ltd (CAL), Finance Minister Larry Howai yesterday fired all but one member of the CAL board.
He appointed of a new interim board and said the immediate mandate of interim chairman Phillip Marshall, “will be to do a detailed diagnostic review of CAL and provide detailed recommendations on the way forward.”
The firing of the CAL board led by Rabindra Moonan came after allegations that CAL’s former vice-chairman Mohan Jaikaran may have abused his position to promote private business interests. During a news conference at the Eric Williams Financial Complex in Port-of-Spain, to announce the appointment of CAL’s new board, Howai was asked if he accepts responsibility for events at the airline since it was shifted from the Transport Ministry to his ministry last June."
The new individuals on the board possess quite impressive resumes,commanding influential roles in major multi-billion coporations like Ernst and Young, RBC and the IMF
prior to their current public sector positions. As Howai stated, this is an interim board installed to do a comprehensive diagnostic of the carrier as well as appoint competent talent to key positions. Howai especially stressed the CEO position; all of us have been chanting for this to happen.
It also appears that Howai is not buying into the old board's propaganda of KIN
being the root of CAL's problems. He stated that the new chairman's job will be to help stabilize the KIN
operations through his many business relationships he already holds in the Jamaican business community. Dennis Lalor is also hopeful that the KIN
operations can now be treated with the care it deserves through prudent management initiatives. With all of this, it is a definite indication that KIN
is integral to CAL's survival and it must work to the benefit of all stakeholders involved.
The long road to recovery has begun. I will not hold my breath on anything, however, as long as CAL remains under Howai, the airline will see much better days ahead.
It is what we think we know already that prevents us from learning.......