Stephen Levy Departs from Jamaica Broilers Group After Over Two Decades
Stephen Levy will leave Jamaica Broilers Group Limited on May 3 after over 22 years of service. He has significantly contributed to the company’s USA operations, increasing revenues from USD 10 million to over USD 250 million. His resignation has been confirmed along with new directives for management during this transitional period.
Stephen Levy is set to depart from Jamaica Broilers Group Limited (JBG) on May 3, concluding a tenure of over 22 years with the company. His resignation was publicly announced on February 28, marking the end of his role as a director and employee. Stephen Levy began his journey with JBG in August 2002 and ascended to the position of president of Wincorp International Inc. in May 2013, followed by his promotion to oversee USA operations in 2016.
During his extensive career at JBG, Stephen Levy has held numerous management and executive roles, most recently presiding over US operations, where he significantly increased annual revenues from USD 10 million to upwards of USD 250 million. Christopher Levy, the Group President, will temporarily manage the US operations during the transitional phase. In a statement, company secretary Peter DePass expressed their best wishes for Stephen Levy’s future endeavors and his family.
Stephen Levy is related to the upper management of JBG as the brother of Group President & CEO Christopher Levy and son of Chairman Robert E Levy. The founding lineage extends to Robert Levy, son of co-founder Sydney Levy, who, along with Byron Coombs and Larry Udell, established the company in May 1958.
As of October 26, Stephen Levy owned 3,382,600 ordinary shares of JBG and is a connected person to JBGL Stockholders Nominee Limited, which holds 16.50 percent of the company. JBG’s USA operations contributed substantially to the group’s overall revenue, generating USD 33.45 billion, which constitutes 36 percent of the total revenue during the April 2024 financial year.
In summary, Stephen Levy’s impending departure from Jamaica Broilers marks a significant transition for the organization. Over his 22 years, he propelled the USA operations to new heights, and the company’s continuity will now rest with Group President Christopher Levy during this change. As Jamaica Broilers gears up for the publication of its financial results and the upcoming annual meeting, stakeholders will remain attentive to these developments as they impact the group’s future.
Original Source: www.jamaicaobserver.com
