The Board of Directors of Demerara Distillers Limited on Saturday announced the retirement of its chairman, Dr. Yesu Persaud.
At a Pegasus Hotel press briefing on Saturday morning, Director at DDL, Ambassador Rudy Collins said the Board of the company had accepted Dr. Persaud’s notice of retirement. The retirement takes effect from December 31, 2013.
The Board has agreed to appoint Company Executive Komal Samaroo as the new chairman.
The 85-year-old Yesu Persaud is putting down his glass at DDL at a time when the company is enjoying huge profits and its El Dorado branded rum continues to win major international awards.
Dr. Persaud said took over the company in 1975 when it was facing financial problems. In the years after, he said he worked tirelessly to lift the profile of the company and ensure it became profit-making.
“I stand here very proud to be leaving a company or companies, and seeing where they are today, and not only because they are profitable but they are producing the best of the best of the world”, he said in brief remarks.
He said he has reached an age where he could continue but prefers to stop right now. Dr. Persaud added that “I’ve been on the fast track for too long”.
Reflecting on his decades of overlooking the operations of DDL, he said the high point for him would be the company being able to produce branded products under its own brand.
He said he still worries about the current state of the sugar industry and hopes it will get the smart attention that it deserves. “The sugar industry worries me and it should worry all of us because it is because of unguarded that we are all here”.
Dr. Persaud intends to continue overlooking a number of other businesses he operates but on a daily routine.