Carreras Limited

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.

Corporate Governance

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.

Board of Directors

 
Patrick A. H. Smith

PATRICK A. H. SMITH

DIRECTOR

Other appointments: Mr. Smith is a Director of CAC2000 Limited, for which he is Chairman of the Remuneration Committee and Member of the Audit Committee. He was a Director at the Export-Import Bank of Jamaica, and Jamaica Promotions Limited, Chairman of both Things Jamaican Limited/Devon House and Vice President of the Jamaica Exporters Association

Skills & Experience: Mr. Smith has deep business and industry expertise developed over 30 years working in the Caribbean and Europe. He has had several executive roles in the British American Tobacco network, including Global Account Manager, Dunhill Cigars in Switzerland and Caribbean Business Unit Director in Trinidad. Formerly a Director of both West Indian Tobacco Company Limited in Trinidad and Carreras Limited in Jamaica, Mr. Smith served as Chairman of Demerara Tobacco Company Limited in Guyana and Carisma Marketing Services in St. Lucia. Prior to joining BAT, he was General Manager of the Jamaica Biscuit Company Limited.

Qualifications: Mr. Smith holds a BSc. in Public Administration from the University of the West Indies Mona and an MBA from Nova Southeastern University.

Raoul Glynn

RAOUL GLYNN

MANAGING DIRECTOR

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

N. Patrick McDonald

N. PATRICK MCDONALD

DIRECTOR

Other appointments: Director of Television Jamaica Limited, Independent Radio Company Limited and other broadcast media companies forming part of the RJR Gleaner Group. Director of Portland JSX Limited and Do Good Jamaica Limited.

Skills & experience: Mr. McDonald is an attorney and a partner at Jamaican law firm, Hart Muirhead Fatta. He practices mainly in the area of corporate and commercial law, and his experience includes capital markets transactions, mergers and acquisitions, corporate reorganizations, financing transactions, corporate governance, as well as matters in the bauxite and alumina sector. Since 2020, he has served as the Honorary Legal Counsel of the Private Sector Organisation of Jamaica (“PSOJ”). He is a past member of the Corporate Governance Committee of the PSOJ and conducts training in public and private sector corporate governance from time to time, including as part of the Jamaica Stock Exchange e-Campus programme. He has served as an associate tutor at the Norman Manley Law School for a number of years and has been consistently named as one of the leading commercial attorneys in Jamaica by Chambers Global, the internationally recognised legal directory.

Qualifications: Admitted to practice in Jamaica in 1993. Holder of the degree of Bachelor of Laws (Hons.) awarded by the University of the West Indies and the Legal Education Certificate, after attending the Norman Manley Law School.

Nirala Nandini Singh

NIRALA NANDINI SINGH

DIRECTOR

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

Juan Carlos Restrepo Piedrahita

JUAN CARLOS RESTREPO PIEDRAHITA

DIRECTOR

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

Laurent Meffre

LAURENT MEFFRE

DIRECTOR

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

Paul R. Hanworth

PAUL R. HANWORTH

DIRECTOR

Other appointments: Deputy Chief Executive Officer and Director of PanJam Investment Limited (PanJam), an investment holding company listed on the Jamaican Stock Exchange, and Director / Trustee of many of its principal subsidiary and associated companies and its pension plan. Director and Audit Committee member of Sagicor Group Jamaica Limited and Sagicor Life Jamaica Limited, and Chairman of the Group Risk Committee. Independent Director, Audit Committee Chairman and Investment Committee member of British Caribbean Insurance Company Limited. Chairman, National Health Fund Pension Plan. Director, Rainforest Seafoods Limited. Director of First Angels Jamaica Limited and Investor Director of two angel-funded companies. Member of the PSOJ’s Listed Companies Committee.

Skills & Experience: Mr. Hanworth has worked for PanJam for 15 years, initially as chief Financial Officer before becoming Chief Operating Officer and the Deputy Chief Executive. In those roles he has spearheaded several add-on and fresh acquisitions and has expanded the Group’s private equity portfolio. Prior to PanJam, Mr. Hanworth founded, ran, and subsequently sold Jamaica’s pre-eminent fine wine import and distribution company. He started his career in Jamaica in 1998 with ICD Group, where he restructured the finances and operations, being directly involved in the restructuring of the Group’s debt with a prominent New York investment bank and the disposition of several business units. Mr. Hanworth began his career at KPMG in the UK, prior to moving to the USA in 1979 where he worked for the firm for 10 years and for Diageo for 9 years, including two years in South Africa from 1994 to 1996. During his career at Diageo, he gained considerable experience in M&A and divestitures as well as financial controllership, financial and strategic planning, and treasury.

Qualifications: Fellow of the Institute of Chartered Accountants in England and Wales (FCA); Member of the American Institute of certified Public Accountants (AICPA); BA and MA (Classics) from Cambridge University; MSc (Management) Rensselaer Polytechnic Institute.

 

Leadership Team

Raoul Glynn

RAOUL GLYNN

MANAGING DIRECTOR
Verona Williamson

VERONA WILLIAMSON

FINANCE DIRECTOR & COMPANY SECRETARY
Dwaine Williams

DWAINE WILLIAMS

MARKETING DEPLOYMENT MANAGER
Andre Pryce

ANDRE PRYCE

TRADE MARKETING & DISTRIBUTION MANAGER

Announcements

Annual General Meeting

Dividend letter

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