JOHNSON
FORMER JAMAICA Stock Exchange executive chairman Roy Johnson is to be appointed as its chief executive officer, responsible for the organisation's strategic development. The appointment becomes effective on July 1, 2006.
Last week, after the 29th annual general meeting, Mr. Curtis Martin, president of Capital & Credit Merchant Bank was named as the new chairman and Mr. Leo Williams, international business development manager of JMMB Ltd. was elected as the new deputy chairman. Mrs. Marlene Street-Forrest, as the general manager, remains the JSE's chief operating officer, in charge of the day-to-day operations of the exchange.
Newly-appointed chairman, Curtis Martin stated that in this new capacity, Mr. Johnson who has been the chairman of the board for four years and executive chairman for two years, will be responsible for a number of strategic areas of the exchange's development. These include: the de-mutualisation of the JSE; implementation of the fixed income project and the integration of the regional markets.
"Mr. Johnson's appointment is part of the move towards positioning the exchange for the future," Mr. Martin said."Mrs. Street-Forrest continues to enjoy the full confidence of the exchange's board which has been impressed with the impact of her deliverables on the growth and development of the Jamaica Stock Exchange."
The change is evidence of a clear separation between board and management which the new de-mutualised organisational structure will necessitate and in keeping with the exchange's published corporate governance principles and practices.
As such the role of the new chairman is to partner with senior management to achieve the Jamaica Stock Exchange's mission; provide leadership to the board and foster the board's role in strategic planning.
"We believe that this new structure will enable the JSE to fully realise its mission in enabling the growth and development of the country's capital market and the actualisation of a regional stock market," he said.
