A chairman appointed by a number of directors of National Flour Mills (NFM) without consultation with the company's line minister has signed off on the food producer's unaudited financial results, which were submitted to the Trinidad and Tobago Stock Exchange (TTSE) last week.
The results were signed by Suresh Maharaj, who was voted by NFM directors to replace chairman Jacqueline Burgess.
The results have been posted on the TTSE's website.
However, there was no notice posted on the TTSE's website as is customary about any change of chairmanship to authenticate the signatory.
Six NFM directors, Ross Alexander, Sterling Chase, Doolarchan Hanomansingh, Alimuddin Mohammed, Bridgelal Neebar and Sardanand Ramnarine, voted for Maharaj to replace existing chairman Jacqueline Burgess at a board meeting on August 10.
The Sunday Express understands the board's decision was not done in consultation or knowledge of line Minister Vasant Bharath.
Bharath yesterday told the Sunday Express he met with the chairman and several of NFM's directors last Friday and will issue a statement on the matter this week.
NFM is one of five companies in Government's holding company National Enterprises Ltd (NEL) which is publicly traded on the TTSE.
Only three weeks ago, the board held its annual general meeting and announced its 2011 results, which were signed off by Burgess. The only public announcement on the TTSE's site about directorships is the resigna tion of Monique Patrick as a director.
Last week, NEL chairman Kenny Lue Chee Lip would not comment much on the issue following NEL's annual meeting in Port of Spain, but shareholders raised concerns over the management of the company, which they said was being run like a "political football".
Burgess declined to talk to the Sunday Express about the matter.
Burgess and her board butted heads during a search for a chief executive for the company.
The board had opposed the candidate based on what they describe as an "improper selection" by Burgess.
In its unaudited results, as at June 30, NFM said it posted a profit of $3.6 million, which is a reversal of a $5 million loss for the same period in 2011.