Carreras Limited is the leading marketer and distributor of cigarettes and tobacco related products in Jamaica. The Company is publicly listed with local and international ownership. Jamaican shareholders own approximately 49.6% of the Company with the majority interest being held by British American Tobacco.
Our vision is to achieve and maintain leadership of the Jamaican tobacco industry in order to create long term shareholder value. Four elements around which all our efforts revolve are Growth, Productivity, Responsibility and a Winning Organization.
We hold steadfast to the strategy of our parent company, British American Tobacco, in creating shareholder value, delivering profit growth and long-term business sustainability. The four pillars of this strategy are Growth, Productivity, Responsibility and developing a Winning Organization.
We are committed to good corporate governance and achieving our business objectives in an honest, transparent and accountable way. We regard corporate governance a key element underpinning the sustainable, long-term growth of our business.
Our Statement of Business Principles and our Standards of Business Conduct underpin our commitment to high standards of corporate behaviour. Conducting our business with honesty, integrity and transparency is not only the right thing to do but is also critical to the continuing development of a business that is responsible, successful and sustainable in the long term. The Standards require all staff to act with high standards of business integrity, to comply with all laws and regulations wherever our companies operate and to ensure that our business standards are never compromised for the sake of results.
Position: Chairman of the Board of Directors of Carreras Ltd. since November 2015; Non-Executive and Independent Director since February 2007; Chairman of the Nomination and Compensation Committee since January 2016; appointed to the Corporate Governance Committee since June 2017 and the Audit Committee on November 6, 2019.
Other appointments: Founder and Managing Director of Capital Options Ltd., Chairman of the Board of Allied Insurance Brokers Ltd., Chairman of Wigton Windfarm Ltd. and Member of the Board of Barnett Ltd.
Skills & Experience: Mr. Holmes is the Managing Director of Capital Options Ltd., a financial advisory firm he founded in 1997. Prior to establishing Capital Options, Mr. Holmes was the Chief Operating Officer of Manufacturers Merchant Bank Ltd. and prior to that Vice President of Citibank N. A. He served as a senior manager in virtually all aspects of Citibank and its subsidiaries operations in Jamaica, including Vice President - Corporate Finance, Financial Controller – Citibank Jamaica and its subsidiaries, Corporate Banking Group Head, Managing Director - Citifinance Limited, Manager - Centralized Operations and Chief Inspector for the Caribbean region. During his career at Citibank, he led or participated in many notable transactions in the Jamaican and international markets, and, at Capital Options, has continued to close notable transactions in the areas of capital raising, mergers & acquisitions, financial advisory and private equity in the Jamaican and Caribbean Markets.
Qualifications: B.Sc. Management Studies (Hons.); M.Sc. Accounting
Committees: Chairman, Nomination & Compensation Committee; Member, Corporate Governance Committee and the Audit Committee.
Position: Effective February 1, 2020, Raoul Glynn was appointed Managing Director of Carreras Limited. Raoul has over 18 years of experience with the British American Tobacco Group.
Other appointments: Member of the Board of Directors of Demerara Tobacco Company since February 2017
Skills & Experience: Prior, Raoul held the position of Country Manager at Carisma Marketing Services responsible for the general management of 21 markets of the English, French and Dutch speaking Caribbean, the largest volume base in the area. Raoul distinguished himself through his performance in various roles, beginning with that of Executive at West Indian Tobacco Company in Trinidad in 2002; Area Manager, Carisma Marketing Services Unit in January 2004; Trade Marketing and Distribution Manager at Demerara Tobacco (DTC) Guyana, another BAT subsidiary in April 2006. Having earned the opportunity, Raoul was seconded to Carreras in Jamaica where he led a team which achieved positive volume performance in the market. His BAT career continued in February 2012 with the role of Marketing Operations Manager of British American Tobacco Pars in Iran and then, in February 2014, following a short stint in the Middle East Area, Dubai, Raoul assumed the role of Business Development Manager in Costa Rica, with responsibility for the Trade Marketing, Distribution and Activation portfolio for Central America and the Caribbean, leading a strong efficiencies agenda in the region.
Qualifications: BA., University of the West Indies, St. Augustine Campus
Committees: Director, Demerara Tobacco Company, Guyana; Participant- Audit Committee, NOMS Committee, Corporate Governance Committee – Carreras Ltd; Member, Carreras Ltd Superannuation Fund
Position: Non-Executive and independent Director, appointed to the Board of Directors on February 4, 2016; member of the Audit Committee since February 4, 2016 and the Nomination and Compensation Committee since May 25, 2016; Chairman of the Corporate Governance Committee since February 2, 2017.
Other appointments: Managing Partner at MH&CO., Attorneys- at Law. NonExecutive Director of the Jamaica Stock Exchange and Chairman of its Corporate Governance Committee; Barita Investments Limited and Chairman of its Corporate Governance Committee; Marander Industries Limited and Janus Strategic Marketing Services Limited.
Skills & Experience: Mr. Hogarth is an Attorney-at-Law. Over his years in practice, he has managed numerous corporate bank loan transactions for numerous international blue chip companies, private equity and debt transactions, mergers and acquisitions, Initial Public Offerings (IPOs), stock exchange listings, private business and legal audits and has acted in numerous cross-border matters including the management and strategy of insolvency and receivership assignments, including advising the Liquidator or Receiver on legal issues. He also has considerable experience with both residential and commercial real estate transactions, including real estate investment vehicles and structures. Mr. Hogarth has a reputation for being solution-oriented, detailed, thorough and for his proficiency at creating practical corporate structures that marry business and the law. He received his LL.B (with Honours) from the University of Liverpool.
Qualifications: LL.B (with Honours), University of Liverpool. Admitted to the bar in multiple jurisdictions including Jamaica, New York State, The British Virgin Islands, Saint Lucia and Barbados. Member of the American Bar Association, the Jamaican Bar Association, the BVI Bar Association, INSOL International (International Association of Restructuring, Insolvency & Bankruptcy Professionals) and the American Bankruptcy Institute. Legal member of the Private Sector Organization of Jamaica’s Listed Company’s Committee and the Jamaica Stock Exchange’s representative on the PSOJ’s Corporate Governance Sub-Committee.
Committees: Chairman, Corporate Governance Committee; Member, Audit Committee; Member, Nomination & Compensation Committee
Position: Non- executive Director, appointed to the Board of Directors on July 24, 2019.
Other appointments: non-executive President for a communication and strategy consulting firm
Skills & Experience: Mr. Juan Carlos Restrepo Piedrahita first joined British American Tobacco in 1996 as a Legal Advisor. Throughout his initial 14-year employment with the company, he held several senior positions including serving as the Regional Counsel in Brazil, the Director of Legal, Corporate and Regulatory Affairs in Colombia, and the Director of Corporate and Regulatory Affairs in Venezuela. Mr. Restrepo went on to work with his home Government of Colombia, serving as Director for the Counter Narcotics National Directorate, the Inspector General of the National Directorate of Intelligence, Director-General of the Prison & Penitentiary Services, as well as National Security Advisor for the President of Colombia, at which time he was also appointed as Presidential Delegate for the implementation of the Peace Agreement with the FARC Guerrilla in Colombia. He was welcomed back to BAT in January 2019 to serve as the Legal & External Affairs Director for the SANCAR area. Mr. Restrepo is fluent in English, Portuguese and Spanish.
Qualifications: LLB, a Diploma in Competition Law, and two Masters degrees in National Defence & Security and International Contracting.
Committees: Member, Corporate Governance Committee
Position: Appointed to the Board of Directors of Carreras on March 23, 2020
Other appointments: Managing Director, West Indian Tobacco Company (WITCO) Skills & Experience: In his role as Managing Director of WITCO, Mr. Meffre manages 24 Caribbean markets through its British American Tobacco Associates. Previous to his appointment as Managing Director, he served in several senior roles within the British American Tobacco Group, including General Manager, Lagos, Nigeria (West African markets), where he had responsibility for 25 markets. Mr Meffre also held the position of Chairman of the Board of Directors of British American Tobacco Ghana, Benin and Cameroon. Over his 22 years in the British American Tobacco Group, he has amassed a wide range of experience in the key functional areas of Strategic Planning, Marketing, Operations and Human Resource Management. He brings with his experience a proven track record of Talent Management and Human Resource Development which will redound to the efficiency and productivity of the Commercial and Operations side of the business and facilitate continued growth in the local and regional markets.
Qualifications: BA (Hons) Business Administration (Business Strategy & Operations Management), French Baccalaureate Economics (Hons), National Dip. Marketing (International Trade & Marketing Finance), National Dip. Sales & Marketing
Committees: Member, Board Compensation Committee
Position: Director other appointments: Not applicable
Skills & Experience: Nirala is currently the Commercial Finance Controller for Latin America North and the Caribbean Business Unit of British American Tobacco, based in Mexico. She has more than 15 years experience working with the BAT Group, across a wide range of Finance roles, such as Internal Audit, Commercial Finance and Corporate Finance, as well as Global Shared Services. Nirala has significant experience in working in above market, end market roles, in strategic planning for complex and emerging markets, and also in leading large teams. She has held roles across a number of countries including Trinidad and Tobago, Costa Rica, Vietnam and now Mexico. In her current role, she has the Commercial Finance responsibility for 33 markets which includes pricing and resource allocation strategy. She also leads the Caribbean Finance portfolio. In her current and previous roles Nirala has had to work across multiple geographies, with a wide range of internal and external stakeholders to drive the commercial and finance agenda toward enabling long term market sustainability.
Qualifications: MBA, Finance graduated with Honors from Michigan University; Fellow of the Association of Chartered Certified Accountants (ACCA)
Committees: Member, Audit Committee
Position: Non-Executive and independent Director since 2010. Executive Director (as Managing Director) from 2005 to 2010. Appointed to the Audit Committee on May 17, 2011 and has been Chairman since February 3, 2016.
Other appointments: Executive Chairman of Peak Bottling Company Limited. Chairman of Spike Industries Limited, Pioneer Manufacturing and Distribution Limited and One on One Educational Services Limited. He is a Non-Executive Director of Salada Foods Limited, GK General Insurance Company Limited, New Transport Group Limited, Sterling Investments Limited and Hardware & Lumber Limited. Chairman of the Board of Management of Jamaica College.
Skills & Experience: Mr. Bernard first joined Carreras Group Limited in 1988 and in 1991 he was appointed General Manager of the Jamaica Biscuit Company. In 1995 he assumed concurrently, the positions of Managing Director of two subsidiaries; the Cigarette Company of Jamaica Limited and Agricultural Products of Jamaica Limited. In 1997, he was appointed to the Board of Directors of Carreras Limited until 2000 when he was seconded to the USA subsidiary of British American Tobacco, Brown and Williamson Tobacco Corporation. He regained leadership of the Cigarette Company of Jamaica Limited at the end of 2001 and was re-appointed to the Board of Carreras Group Limited in 2004. In 2005, Michael was appointed Managing Director of Carreras Limited, the role he held until retirement in 2010.
Qualifications: BA; B.Sc. summa cum laude Business Administration, Forest Management respectively, Washington State University; MBA, the Harvard Graduate School of Business Administration. 2010 recipient of the Carlton Alexander Award for Excellence; Fellow of the Jamaica Institute of Management.
Committees: Chairman, Audit Committee