George McDonald has been appointed Co-Managing Director/Marketing Director of Banks DIH Limited as of January 19, 2013.
The move announced in a Banks DIH press release dated yesterday would effectively make him the understudy of long-serving Chairman and Managing Director, Clifford Reis. Prior to yesterday’s announcement Reis had been Chairman and Managing Director.
According to the release, the decision was made at the January 18th monthly statutory meeting of Banks DIH. The company’s Annual General Meeting was held the following day.
The release said that McDonald joined the staff of Banks DIH Ltd on October 1, 1972 as a clerk within the brewery. Within four years of his employment, he was granted a company scholarship to pursue a degree in economics at the University of Guyana. Upon his graduation, he was transferred to the Sales Department in 1981 as Sales Manager: Soft Drinks. He was confirmed as Sales Manager in 1983. In 1991, McDonald was elevated to the post of General Marketing Manager which he held until 1995 when he was confirmed in the position of Marketing Executive.
The release said that in 1997, McDonald was chosen to attend the Western Executive Programme at the University of Western Ontario, Canada and upon resuming duties he was appointed Marketing Director which position he held until his confirmation by the Board of Directors as Assistant Managing Director/Marketing Director on April 29, 2010.
The Board of Directors congratulated him on his appointment and wished him a long and successful tenure.
According to its annual report for 2012, Banks DIH Limited Group recorded a profit before tax of $4.938 billion, a 22 percent increase over the takings of 2011 which was $4.036 billion.
Profit after tax for the Group was recorded at $2.776 billion up from $2.298 billion, an increase of $478 million or 21 percent. Chairman Reis in his report in the annual report said that for the first time in its history the company achieved profit before tax in excess of $3.5 billion and profit after tax of $2.5 billion.
