Board Director and CEO of Mayberry Investments Gary Peart is the new chairman of Supreme Ventures, the company announced yesterday.

Peart takes over from David McConnell who has held the role for the past two years.

McConnell oversaw and led the company through record breaking performances during his tenure, with the company’s operating income growing by well over 50 per cent and share prices moving by well over 200 per cent, the company said via news release.

McConnell will assume the role of Chairman of the Board’s Finance Committee – a role previously held by Peart – and will remain involved in the strategic oversight and risk management of the business.

“We thank David for his extremely hard work executing the vision of taking SVL to the next level over the past two years. He has presided over 20 record breaking months of achievement during a period of great change for the company. His stewardship has been tremendous, and we look forward to building on the foundation he has laid” said Peart via the release.

“I am excited to be taking on this role as we move into the next phase.”

The release states that McConnell’s decision is “primarily based on family obligations and was informed largely due to his now expanded responsibilities with his various companies and new opportunities in his business, Select Brands”.

McConnell is co-managing director of Select Brands Ltd and sits on the boards of at least five boards including: Select Brands, Ironrock Insurance Company Ltd, Scotia Group Jamaica Ltd, Scotia Investments Jamaica Ltd and Hillel Academy.

Gary Peart has been CEO of Mayberry Investments Limited since May 2005 and is largely credited with building the business into one of the leading investment houses on the Jamaican financial landscape, the release said.

Peart has more than 20 years of corporate financial experience in Jamaica, and currently sits on at least five boards including: Mayberry, as deputy chairman on the Board of the Jamaica Stock Exchange, on Ironrock Insurance Company Limited with McConnell and on Lasco Financial Services Ltd and Lasco Distributors Ltd.