ANSA McAL group chairman Norman Sabga announced the appointment of his brother, Andrew, as new group chief executive officer (CEO) yesterday at a meeting with stockbrokers, on the 10th floor of the TATIL building on Maraval Road in Port of Spain.
“We did something that is very important this morning. We appointed a new chief executive officer (CEO) for the group and I'm happy to announce that Andrew Sabga is now the new CEO of the Ansa McAL Group, so there's new energy, new blood, new ideas, new drive, new determination to even improve upon what we have,” he said.
The group's unaudited results for the six months ended June 30 showed half-year profits declined by 13 per cent, from $352.8 million last year to $307.1 million this year.
Norman Sabga expressed confidence that the group's profitability would rebound in the second half of 2017.