With the ascension of Frank James at GraceKennedy Limited, the move has triggered other management changes, and the new Group CEO, who takes up office today, February 14, says more changes are coming.
James vacated the position of CEO of GK Foods Domestic when he replaced Don Wehby as top boss.
Going forward, the conglomerate has decided to integrate its domestic and international food units, and has tapped the former CEO of GK Foods International, Andrea Coy, as CEO of the combined unit, which will operate as GraceKennedy Foods. Her appointment also takes effect on February 14.
“Andrea Coy, who will be appointed CEO of GraceKennedy Foods on Friday, previously managed the domestic foods portfolio before leading our international foods segment. We see significant synergistic value in combining both portfolios to drive growth and efficiency,” James said in comments to the Financial Gleaner.
Since joining GraceKennedy in 2005 as the Hi-Lo supermarket chain’s financial controller, Coy has held several key leadership roles within GK, including general manager of Hi-Lo Food Stores and World Brands Services, CEO of Hardware & Lumber Limited, senior general manager of the GK Foods Global Category Management Unit, and CEO of GK Foods Domestic. She has led GK’s international food operations since 2018 and is a member of the GK Executive Committee.
James says further adjustments to senior leadership may follow the recent changes at the executive committee level and will be announced in due course.
The 103-year-old company that started out trading salt fish has total assets of $234 billion. Total revenues for the nine-month ending September 2024 was $126.39 billion and net profits stood at just over $7 billion.
Another big move to come is the departure of Grace Burnett, CEO of GraceKennedy Financial Group Limited. After 25 years, Burnett will retire as CEO on August 14, 2025. She will be succeeded by her current deputy, Steven Whittingham.
James said that when Whittingham steps into the role of CEO of GKFG later this year, additional updates to the GKFG leadership team will take place.
Burnett, an attorney-at-law, previously served as managing director of GK General Insurance and Allied Insurance Brokers, and from 2014 to 2019, she was the CEO of GK’s insurance business segment.
Whittingham joined GraceKennedy in 2013 and has been deputy CEO of GKFG since 2022, overseeing the group’s insurance segment, merchant banking, and investment portfolios. He is a member of the GK Executive Committee and leads GK’s digital transformation programme.
Other positions previously held by Whittingham within the conglomerate include chief investment officer of GraceKennedy Limited, chief operating officer of GKFG, president of First Global Financial Services, and managing director of GK Capital Management.
Outside of GK, Whittingham is the current chairman of the Jamaica Stock Exchange.
James said that with a strong mix of industry expertise, leadership experience, and forward-thinkers, the GraceKennedy Group is positioned to drive growth, innovation and profitability as it works towards achieving its 2030 goals.
“Our combined knowledge will support GK’s vision of becoming the number one Caribbean brand in the world through local, regional, and international expansion,” said the new leader.
“We remain focused on building a resilient, high-performing organisation, with agility at the core of our strategy. Our leadership team will be instrumental in driving adaptability and efficiency, ensuring GK’s long-term success while staying true to our core values,” he told the Financial Gleaner.
James rates the assembling team as “solid, with a lot of depth”, saying it demonstrates GK’s commitment to robust succession planning.
“This diverse and highly skilled group is key to ensuring continuity and stability in executing GK’s long-term strategy, while adapting to an ever-evolving global landscape. Through a thoughtful approach to leadership development, we are not only strengthening our ability to drive key strategic initiatives, but also to ensure smooth transitions in leadership as GK continues to grow and expand,” James said.
