Susan Gordon, Staff Reporter
Livingston Morrison, president and CEO of Sugar Company of Jamaica. - RICARDO MAKYN/STAFF PHOTOGRAPHER
Livingston Morrison, chief executive officer of the Sugar Company of Jamaica (SCJ), resigned as head of the organisation last Friday.
His resignation becomes effective at the end of September 2006, which chairman for the SCJ Derick Latibeaudiere described as the end of the financial year.
Wednesday Business was unable to contact Mr. Morrison to determine the reason for his decision.
News of his intended departure from the SCJ has come in the middle of the Sugar Company's divestment process which started this year and also amid the alleged withdrawal of financial support from the SCJ by the National Commercial Bank because of a monstrous $2 billion overdraft.
Mr. Livingston served as CEO for four years having succeeded Ambassador Derrick Heaven. He was an executive at the Bank of Jamaica prior to that appointment but was serving on the SCJ board.
Mr. Latibeaudiere said he was satisfied with the ample notice that Mr. Livingston gave the organisation. "He wanted to see a new transition," said Mr. Latibeaudiere. He also said it would be pointless to identify an immediate successor for the SCJ because of the divestment issues.
