As tributes poured in yesterday to honour pioneering business magnate, Yesu Persaud, persons he work-ed with over the decades remembered a patriotic visionary who paved the way for emerging entrepreneurs, doing so with humility and compassion.
Persaud passed away at his home early Monday morning at the age of 93.
Demerara Distillers Limited (DDL), the company he had been closely associated with for more than four decades led the tributes.
In a statement, it said “The DDL we know today owes a great debt of gratitude to Yesu Persaud, for his bold and imaginative leadership for over four decades. Present and future generations of employees are and will be thankful for the strong foundation that he has built to make our company succeed. We will forever be appreciative for the career opportunities we enjoy today, which are all possible because of the carefully constructed foundation designed by a master architect, the late Dr. Yesu Persaud.
“During his years at DDL, Dr. Persaud was at the forefront of innovation, modernization, and diversification. He was a champion for causes of our employees, customers, and shareholders. He always displayed abiding humility and understanding, while at the same time promoting the highest levels of discipline, honesty, and productivity”.
Noting that DDL’s journey over the years was not without its challenges, the company said that Persaud’s leadership was robust and exemplary.
“As we mourn Dr. Persaud’s passing, DDL will continue to draw on the life of this national treasure; his unmatched approach to governance, and his staunch commitment to doing what is right. The Board of Directors, Management, and staff at DDL extend to his bereav-ed wife and children and all his loved ones, our sincerest condolences on this great loss. We hope you can find comfort in the extraordinary achievements of his lifetime and the very impactful contribution which he made”, the company said.
Colleagues he worked closely with recounted their own cherished memories of him.
“Our paths crossed over 40 years ago and I could not have asked for a better friend and business partner. The challenges we had at the beginning of this journey are often difficult for many to understand because we started at a time of exchange control and import licence requirements but that never deterred him; nothing deterred him. He always rose to the challenge and was an inspiration to work alongside. While we were all struggling, he remained perpetually optimistic,” longtime friend, business partner and Chairman of DDL Komal Samaroo told Stabroek News yesterday.
Samaroo said that while he is deeply saddened at Persaud’s passing, he is comforted knowing that the founding member of DDL and Demerara Bank Limited and his mentor has made such a stellar contribution to the development of this country and imparted vast knowledge to those whose lives he touched.
Significantly, he shared that although Persaud was a workaholic who was so focused on overcoming the many obstacles faced along his career path, equally important to him were family and humanity.
“He was consumed with his work but he was a cultural man and didn’t one day forget his cultural roots; getting more tied into it as time permitted. He was a Hindu and reflected the teachings of humility. It was something outstanding to watch. He came from humble beginnings and never forgot that, even as he rose on the social ladder. So he was humble, treated everyone with respect and dignity and I suspect that is why anywhere he went he was loved,” Samaroo shared.
He remembered that Persaud coming from a background where his ancestors were indentured labourers from India found a way of reconnecting with his roots. Although he did not have the time to do actual planting, Samaroo said that Persaud insisted that his home’s landscape be that of many fruit trees and garden vegetables.
“He grew up on the estates and liked to be among plants and nature. He enjoyed walking among the plants and enjoyed seeing them bear fruit,” Samaroo fondly recalled.
Persaud’s timeout for nature as he simultaneously juggled work and building one of this country’s largest establishments in DDL and later Demerara Bank was remembered by another decades-old friend Chandra Gajraj.
The widow of former Minister of Home Affairs Ronald Gajraj, she remembered meeting Persaud “40 plus years ago” and he was an inspiration and mentor from them until his demise yesterday.
“I will miss Mr Persaud because he has been around since I was young and helped to guide me in my career because he was someone you could turn to for sound advice and guidance. He did not play with his work and led by example,” Gajraj reflected.
She recalled that their first meeting was when she was an employee of Royal Bank Trust Company when Persaud was one of the shareholders at the time. She said that he would eventually become Chairman of the company and from the early 1990s always told of his vision to form a local bank and this was how Demerara Bank Limited was birthed.
She said he led the company immaculately and was always up to date with the internal day-to-day operations although he never micromanaged and gave persons the opportunity to utilize their respective skillsets.
Excellent guidance
“He led the company by example and provided excellent guidance in that leadership. Mr. Persaud was a visionary. He was never daunted by any challenges. He had this humanitarian side and always wanted to help people. He could dwell among the pauper and never make you feel like it because he kept the common touch; there was no arrogance and he was very supportive; compassionate; helpful and had good advice. He was always thinking of how to help people to develop themselves,” she said
And like Samaroo who reminisced of Persaud’s bond with nature, Gajraj fondly reflected on his obsession with ensuring the garden at the Diamond, East Bank Demerara branch of Demerara Bank was well kept. “I think it is from his growing up in an agriculture community because he was always reminding of the garden at Diamond”, she said, even as she emphasised his work ethics.
Incomparable commitment to his goals and a true business icon is how former Head of the Institute of Private Enterprise Development (IPED), Ramesh Persaud will remember Yesu Persaud. Ramesh Persaud said that during his career alongside the business titan, his commitment especially to his staff was laudable.
“It was an honour to work with Dr Persaud who was a visionary. He was a people’s person who advised us, his employees, to always focus on people. He believed in good governance and meritocracy and had a knack for picking the right people to do the job. He believed if you were willing to help yourself you should get that push and it was why he started IPED. Dr. Persaud treated his workers with dignity and respect,” Ramesh Persaud said.
“I first met him in 2006 when I did the second interview to commence working with IPED. Because I was coming in, he wanted to meet me and he arranged and did. He was already a most accomplished individual but was so humble. After that, he would regularly check in. In the early days he would call twice per month and had a face-to-face at least once but would always first find out how the person was doing before anything (about) work. And even in recent times, he would first check on how I am personally. In my case I worked and stayed because I believed in his vision,” he added.
Ramesh Persaud chuckled at his recent encounters with the pioneering businessman when he would say to him often, “Ramesh, I hope you are not taking this job to build your CV but that you want to give back to society and people.”
“Because of his vision and the human element that he put in along with work makes me believe that is why people followed him. He was the individual that despite what was happening he would assure you that he will help to take you over the hurdle.
“He was compassionate, would find out about families and any life-changing events for those persons working close with him. With most of the junior employees, he was always very kind and dignified to them,” he added.
Friends, Chartered Accountants Ronald Alli and Maurice Solomon remembered Persaud’s determination.
“We were fellow professional accountants and close friends, over the years we worked significantly on accounting issues. Together we also worked on social and community efforts such as the Monument Gardens on Church Street. Guyana will be lesser because he is gone. I cannot emphasise enough his significant contribution to Guyana’s progress and he did not let age slow him up,” Alli said.
He noted that accountants in Guyana have to credit Persaud’s representation that accounting classes and the respective exams are all done in Guyana as he did not want others to endure the same as him, having to go to the UK to complete the exams.
“One of the pioneering things was he helped to make accountancy a complete profession in Guyana. You can do it from start to finish here and when we remember him we must remember that,” he added.
For Solomon, who was decades ago Persaud’s financial director, his dedication to his work also stands out. “He was a dynamic visionary and we have lost a great one,” he said.
Former Guyana Defence Force Chief of Staff, retired Major-General Joe Singh, who Persaud held as a brother lamented that he was still grappling with the death as he reflected on the indelible memories shared.
“It is difficult to encapsulate what he really meant to Guyana and what his contributions were as they were so many diverse fields. He was an amazing man and it was my pleasure to know him for over 40 years. He regarded me as a brother and I, him, as an older brother and surrogate father,” Singh said as he, too, recalled the history of Persaud building businesses.
He said that Persaud’s multifaceted talents that he brought to bear on Guyana, coupled with his caring attitude and his commitment to the wellbeing of the less fortunate, is what guarantees a legacy of a patriotic visionary.
Persaud’s passion for helping persons to “discover themselves”, according to Singh was what led him to create an agency like IPED. “Entrepreneurship training has made a difference in the lives of Guyanese who had it not been for IPED would not have been where they are now”, Singh said.
But Guyana’s democracy has to credit Persaud too, Singh believes because of the role he played in ensuring this country’s people have the leaders they sought.
“Who can forget his role with Bishop Randolph George in their struggle for free and fair elections? He was instrumental in having the Carter Center here… he was a key member of GUARD. And the change in 1992, many of the young people now would not know of the sacrifices and the pressures he had to face to make that reality but never once did Yesu Persaud wilt in the face of challenges,” he added.
Singh said that from his and Persaud’s weekly talks he knew that he kept up to date with Guyana’s current issues.
“For me he is an icon, not only a patriot par excellence. His involvement in the sugar industry and his multifaceted representation for access to markets in Europe and being able to build the market for the El Dorado name, ensuring renewable energy at Diamond and the bank, his cultural involvement through the exchange with India are all examples of the man he was.
“But he wasn’t partisan, He participated fully in the friendships with anyone. His friendship with Eric Phillips of ACDA is evidence of this. His promotion of young people and ACDA shows the person he was. Yesu made targets how to bring about transformational change in the lives of people and he achieved those. He wanted to be an example to other entrepreneurs and he was. His ability to negotiate and his ability to spot talent and nurture their careers (was) immeasurable. I am sure there are hundreds if not thousands who have benefitted from his selflessness.
It is in the lives of all those persons he mentored and nurtured and those who he helped to discover themselves and of course his business acumen in how to position your business to seize opportunities that he will be remembered.”
“We have lost someone who is iconic and will always be there as the benchmark for professionalism, patriotism, visionary… when his story is told it is of a man whose life we should honour and we should only be proud of what he has done for Guyana,” Singh stressed.
President Irfaan Ali yesterday said: “Guyana has lost an outstanding soul in Dr. Yesu Persaud, a true son of the soil…To his family, friends, management and staff of DDL and Demerara Bank, and the wider private sector, I join with you in prayers at this time. May his soul find eternal peace”.
Demerara Bank Limited Chairman and founder Dr. Yesu Persaud (centre) with Chief Executive Officer of DBL, Pravinchandra Dave (second from left), IDB country representative Sophie Makonnen (second from right) and others in October 2020 during the signing of a trade financing deal.
