Sagicor's new structure - Byles now chairman, Zacca president/CEO, Williams director emeritus of company
Philanthropist and entrepreneur R. Danny Williams announced his retirement as chairman of the Sagicor Group effective June 1 while at a press conference held in New Kingston at the Sagicor Auditorium yesterday.
Williams's retirement as head of one of Jamaica's most powerful groups of financial institutions coincides with the retirement of group president and chief executive office (CEO) Richard Byles, who will assume the role of chairmanship once Williams steps down.
Businessman Christopher Zacca will now take on the dual role as president and CEO when Byles demits office on May 1 after serving 13 years in the positions.
Stephen Facey, chairman and CEO of Pan Jamaican Investments Limited, a major shareholder in Sagicor Group Jamaica, hailed both men for their leadership.
"Your achievements are a result of hard work, dedication, and commitment to Jamaica, and I am confident that Sagicor remains in good hands," said Facey, in announcing the board's unanimous decision in naming Williams Director Emeritus.
"We have built a great company, loved by our team members and admired by Jamaicans. I thank every team member as they have contributed to the overall success we have achieved," Byles said, describing his tenure as a tremendous journey.
Byles, who has been at the forefront of several of the group's acquisitions, said that moving on from his current post was hard but that the future of the group was being placed in the right hands.
Zacca said that he accepted the challenge of leading one of Jamaica's most dynamic groups, adding: "It is a great pleasure for me to be in this position."