Lumber Depot announces the appointment of two new directors, P.B. Scott and Melanie Subratie, directors of Musson Group.

Their entry onto Lumber Deposit came as a result of the acquisition of a large block of shares by Stony Hill Capital, an investment vehicle of which both Scott and Subratie are associated through the Musson Group, of which they are both directors.

Scott is the Chairman, Chief Executive Officer and principal shareholder of the Musson Group. His chairmanship extends to Musson’s subsidiaries and affiliates: namely Facey Group Limited, T. Geddes Grant (Distributors) Limited, General Accident Insurance Company Limited, Seprod Limited and PBS Group Limited.

In addition to his responsibilities at Musson, Scott serves on several boards and commissions, which include being chairman of the Development Bank of Jamaica (DBJ). He is also trustee of the American International School of Kingston (AISK) and a former president of the Private Sector Organisation of Jamaica (PSOJ).

Subratie credentials

Subratie is the deputy chair of Musson (Jamaica) Limited, and she sits as the chairman and CEO of Stanley Motta Limited and Felton Property Management. Additionally, she is the executive chairman of the Musson Foundation and the Seprod Foundation.

Subratie is the vice-chairman of General Accident Insurance Company Limited and T. Geddes Grant Limited, a director of Facey Group, Interlinc Limited, Eppley Limited, Eppley Caribbean Property Fund, PBS Group and all its subsidiaries, and Seprod Limited and all its subsidiaries.

She is chairman of the Audit Committees for Seprod Limited, Interlinc Limited, and PBS Group. A keen angel investor, she is a director of First Angels, and a director of Bookfusion Limited. Subratie is the third vice-president of the Jamaica Chamber of Commerce (JCC).

According to the Lumber Depot Chairman, “The board and management of Lumber Depot very much look forward to working with Scott and Subratie, as directors of the company. We are confident that both directors bring experience and insights that will be of tremendous value to the business and to shareholders.”

Lumber Depot operates a full-service hardware store that serves the needs of building contractors, as well as homeowners and service professionals doing construction projects, and building renovations and repairs. The Lumber Depot business has been in operation for over 20 years and has established a market-leading position in the communities it directly serves.

The company benefits from its strategic location in St. Andrew, which allows it to effectively provide hardware products to areas of the city now experiencing significant high-quality commercial, light-industrial and residential real estate development.

Over the years, Lumber Depot has also developed an excellent reputation for service and for delivering good customer value. Lumber Depot benefits from the favourable corporate income tax treatment associated with being listed on the Junior Market of the Jamaica Stock Exchange (JSE).