Al Edwards, Financial EditorSHELL (JAMAICA) Country Chairman, Mario Vulinovich is to step down from that post after two years, Wednesday Business understands.
Mr. Vulinovich who hails from New Zealand succeeded Nicholas Shorthose who was responsible for introducing V-Power to Jamaican motorists. Mr. Shorthose who is now the Chairman of Shell Antilles and Guianas Ltd. oversaw the implementation of the V-Power plant at Rockfort which came in at a cost of $15 million .
Mr. Roger Brian, formerly the LPG Manager for Jamaica ,will succeed Mr. Vulinovich as Country Chairman . Mr. Vulinovich departs at a time when Shell is conducting a review of its Caribbean operations. The parent company has already divested itself of its eastern Caribbean businesses to Simpson Oil Limited (SOL). The SOL Group is an affiliate of the Interamerica Trading Corp (ITC).
Wednesday Business understands that the deal was for a sale and purchase agreement together with a trademark licence agreement relating to the divestment of Shell oil product businesses in Barbados, St. Lucia, Netherlands Antilles, St. Kitts and Nevis, British Virgin Islands, Anguilla, Grenada, St. Vincent, Antigua, Dominica, Belize, Guyana and Suriname valued at US$200 million (J$1.2 billion).
SOL will continue to use the Shell brand under a trademark licence agreement and act as the sole distributor of Shell fuels and lubricants in the region. Under Mr. Vulinovich's stewardship, Shell announced that it would be spending $400 million to improve its operational facilities on the island.
