Charles D’Agostino task to grow the company out of its losses

There is a new man in charge of the day-to-day operations of Jamaican food and juice distributor, Caribbean Producers Jamaica Limited.

He is Charles D’Agostino, who has been appointed to the position of general manager operations, effective July 1, 2021. He takes over from Mark Hart, executive chairman, who was also acting as the company’s interim chief executive officer.

In a brief statement advising of the appointment, the Montego Bay-based company says: “Mr D’Agostino brings over 20 years of industry knowledge and experience to the role and will be responsible for the overall operations of the company.”

TASKED WITH GROWING COMPANY OUT OF FINANCIAL STRESS

The company has been bleeding since the onset of the COVID-19 pandemic, which led to its primary clients, the hotel sector, shutting down business and gradually reopening three months later.

D’Agostino has been tasked with growing the company out of its financial stress and continuing to roll out strategies for growth and further expansion, which is now possible with the reopening of the tourism sector, which is now rebounding much faster than anticipated.

For the nine-month period ended March 31, 2021, Caribbean Producers Jamaica incurred net losses of US$3.79 million, including finance costs of US$1.34 million as well as depreciation and amortization of US$3.18 million.