Business

Supreme Ventures implements new management structure

BY DURRANT PATE
Observer business writer

Wednesday, November 06, 2019

Print this page Email A Friend!


Gaming company Supreme Ventures Limited (SVL) has implemented a new management structure in preparation for more aggressive expansion across the region.

SVL announced that the change comes amid the streamlining of their group of companies in which President & CEO Ann-Dawn Young Sang will spearhead the regional implementation. She will be supported by the heads of two new operational divisions in SVL's wholly owned subsidiary, Prime Sports (Jamaica) Limited.

The two new divisions are Gaming and Operations and Shared Services, which will be headed by Xesus Johnston and Dennis Chung, as co-CEOs of Prime Sports with responsibility for the two new divisions, respectively.

In a posting to the Jamaica Stock Exchange, SVL says “Young Sang will remain president & CEO, and maintain her positions on the boards of SVL, Prime Sports (Jamaica), Supreme Ventures Racing & Entertainment and Supreme Ventures Enterprises in Guyana. The company's expansion plans are largely being driven by the build-out of operations in their newest subsidiary in Guyana, and in other opportunities.”

MAJOR INVESTMENTS MADE IN JAMAICAN OPERATIONS

SVL notes that it has made major investments in its Jamaican infrastructure in preparation to support the coming additions.

The posting adds that “Co-CEOs Dennis Chung and Xesus Johnston both come to their new positions with a wealth of experience and proven track records in their career backgrounds.”

Chung, former CEO of the Private Sector Organisation of Jamaica (PSOJ) and current chairman of the National Solid Waste Management Authority, is a well known political and financial commentator and has been SVL's chief financial officer for the past 20 months.

Johnston has been in the role of senior vice-president of gaming operations since the beginning of 2019, and has successfully strengthened the company's retail, sports betting and gaming lounge operations during that time. SVL points out that having held the role of commercial director – global airtime and transactions for 11 counties for Facey Telecoms, and previously general manager of Jamaica Beverages Limited, Johnston's leadership history prepares him well for this new role.

SVL Chairman Gary Peart says the board is looking forward to this next chapter in the Supreme Ventures story.

According to Peart, “We are strengthening our team and building our capabilities to enable our continued development through regional expansion. This move enables us to leverage our talent pool to enable increased focus and development in critical growth areas, while ensuring that our local operations are fully maximised. The strategy is to bring even more increased value to our shareholders.”

NEW AUDIT COMMITTEE CHAIR

In the meantime SVL has advised that W David McConnell, former chariman of SVL, has been named as the new chair of SVL's Audit, Risk and Compliance Committee.

“This, consequent on the resignation of Board Director and Audit Committee chair, Ansel Howell from SVL, Prime Sports (Jamaica), Supreme Ventures Enterprise Inc, Supreme Ventures Guyana Holdings Inc and Post-To-Post Betting Limited effective today, November 01, 2019,” SVL stated.

“Mr Howell, who has been a director with the group since 2017, advised the board that his decision to resign was in no way influenced or associated with any matter before the committee, but is due solely to personal reasons and commitments,” SVL further stated.


Now you can read the Jamaica Observer ePaper anytime, anywhere. The Jamaica Observer ePaper is available to you at home or at work, and is the same edition as the printed copy available at http://bit.ly/epaperlive


ADVERTISEMENT




POST A COMMENT

HOUSE RULES

1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper � email addresses will not be published.

2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.

3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.

4. Please do not write in block capitals since this makes your comment hard to read.

5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed: advertising@jamaicaobserver.com.

6. If readers wish to report offensive comments, suggest a correction or share a story then please email: community@jamaicaobserver.com.

7. Lastly, read our Terms and Conditions and Privacy Policy



comments powered by Disqus
ADVERTISEMENT

Poll

ADVERTISEMENT
ADVERTISEMENT

Today's Cartoon

Click image to view full size editorial cartoon
ADVERTISEMENT