John De Silva has resigned as managing director of Lasco Distributors Limited (LASD), the latest executive change for the publicly listed Lasco companies.

The Trinidadian will depart his role on March 13, five years after he took up the top role at the distribution company. De Silva previously served as the managing director of Trinidad-based Unilever Caribbean Limited up to November 2020.

“The directors have accepted his resignation and resolved that the executive chairman, Mr James Rawle, will take over the functions and responsibilities of Mr John De Silva upon his departure,” the company stated in its disclosure.

De Silva’s resignation comes less than three months after Jacinth Hall-Tracey stepped down as managing director of Lasco Financial Services Limited (LASF) on December 31. Hall-Tracey spent more than 21 years leading the remittance company from her appointment in March 2004 as General Manager prior to her new title in 2009. Sharlene Williams currently serves as the general manager of LASF.

James Rawle is managing director of Lasco Manufacturing Limited (LASM) and serves as executive chairman of LASM, LASD and LASF.

Lasco Manufacturing’s revenue was down two per cent to $9.28 billion for the nine months period to December 31, but net profit increased four per cent to $2.03 billion due to lower operating expenses and taxes. Lasco Financial reported $1.67 billion in consolidated revenue and $90.21 million in net profit while Lasco Distributors generated $23.76 billion in revenue and $857.88 million for the same time period.