Yesu Persaud announces his retirement from DDL

–names Komal Samaroo his successor

AFTER five decades of sterling service to the Demerara Distillers Limited (DDL), Chief Executive Officer (CEO) Dr. Yesu Persaud announced his retirement yesterday, passing the mantle of leadership to Vice-President for International Marketing, Mr Komal Samaroo.
At a press briefing in the Essequibo Room of the Pegasus Hotel, Dr Yesu Persaud said: “I stand here very proud to be leaving a company, or rather companies…. They are not only profitable, but they are producing the best of the best (in) the world.”
Prior to taking the reins of leadership of the Demerara Distillers Limited in 1975, when the company was called Diamond Liquor Limited, Dr Persaud worked as Finance Director of the Sandbach Parker Group, as well as in other private sector capacities. He said there were hiccups in managing the DDL along the way, but those were overcome, as evidenced by the successes recorded each year.
“Today, DDL is not only a spirits company, but we are in soft drinks…. We are also in (the) distribution business, along with cash-and-carry. We’re (also) in shipping and several others,” Persaud said.
The Demerara Distillers Group is made up of local and overseas subsidiaries, including Diamond Distillers Limited in the USA(DDL USA); DDL Europe; DDL India; DDL St. Kitts; Demerara Shipping Company Limited (DSCL) Guyana; Distribution Services Limited (DSL) Guyana; Tropical Orchard Products Company Limited (TOPCO) Guyana; and there are also linkages in Toronto, Canada.
Dr. Persaud pointed out that the highpoint of his years with the company was when the company moved to producing items under its own brand – the El Dorado brand — which is world-renowned. He said the success of the brand is reflective in its performance at the annual International Wine and Spirits Competition (IWSC), held in London this year. The El Dorado 8-Year-Old Rum won the ‘Best Rum Trophy’, while the El Dorado Special Reserve 15-Year-Old Rum and the El Dorado 12-Year-Old both won Gold Outstanding Trophies.
Dr Persaud considers his years at the helm of the company as being in the “fast lane”. He contends that his retirement would allow him to ‘slow down’. “I have reached an age where I can continue, but I don’t want to. I have to slow down a bit, because I’ve been going in the fast lane too long,” he said.

A HELPING HAND
Asked about his post-retirement plans, Dr Persaud acknowledged that he has the option of returning to the United Kingdom (UK), which is home to bodies he is affiliated with as a Fellow of the ACCA, a Fellow of the Royal Society of Arts, and a Companion of the British Institute of Management. He had also lived and worked in the UK for 10 years. However, Dr Persaud maintains he would remain in Guyana.
He said: “I have many places to go, but I have decided to stay right here at home, doing what I can as long as I can to help people….It is gratifying to help others.”
His work in helping others through establishment of the Institute of Private Enterprise Development (IPED), an institute that develops, stimulates and finances entrepreneurs and small businesses, has been a point of mention. “IPED has helped over 40,000 people,” Dr Persaud disclosed.
His work in helping others saw his act as: founding member and chairman of the Indian Anniversary Committee and the Indian Monument Fund; Chairman of the University of Guyana’s 30th Anniversary Endowment Fund; past Chairman of the Cheshire Home For Disabled Children; Chairman of the Cheddi Jagan Children’s Fund; and Founding Member and Executive Vice Chairman of an organization named the Guyanese People Of Indian Origin (GOPIO).
Aside from his work with organizations that support others, he serves currently as Chairman of Trust Company [Guyana] Ltd.; the Guyana Unit Trust; Bev Processors Inc., and the Guyana Youth Business Trust.
Persaud has also been Chairman of Guyana’s first indigenous private sector bank, Demerara Bank Ltd; the first Chairman of the Private Sector Commission of Guyana; past President of the Guyana Manufacturers Association; the founder and past President of the West Indies Rum and Spirits Association; and a member of the Advisory Group to the (former) Caribbean’s Chief Trade Negotiator, Sir Shridath Ramphal, on Caricom international negotiations. He was past Chairman of CAIC (Caribbean Association of Industry and Commerce), and during the 1980s and 1990s, he and colleagues such as Sir John Goddard, Sydney Knox, Tommy Gatcliffe, Ken Gordon and Pat Thompson were instrumental in moving CAIC from being a dormant organisation into a thriving entity. Dr Persaud was also Chairman of the Caribbean Council for Europe (CCE), and remains a Trustee of CCE. At 85 years old, Dr Persaud contends, his involvement in other organizations would keep him busy.
Mr. Rudy Collins, a DDL director, also make remarks at the press briefing, hailing Dr Persaud as a significant contributor to the company’s development, and by extension that of Guyana. Collins said: “His work has led to the transformation of DDL from a rum and beverage company with a domestic base to a virtual conglomerate that has international reach…. Dr. Persaud’s contribution to the industry and Guyana has been outstanding.”
Collins said Dr Persaud’s retirement comes at a time when DDL is well positioned for sustainable growth.
Dr Persaud is expected to function in his current capacity until December 31.

(By Vanessa Narine)