– Komal Samaroo to assume chairmanship of DDL
Demerara Distillers Limited (DDL) Chairman, Dr Yesu Persaud has retired after close to five decades of unwavering dedication to the company. The revelation was made by DDL Director Rudy Collins at the Pegasus Hotel on Saturday.
Dr Persaud, 85, has served DDL for more than 48 years. His retirement will take effect on December 31, paving the way for Komal Samaroo to assume the chairmanship of the company.
In delivering his final address as DDL chairman, the iconic businessman spoke about salvaging the company which was on the brink of collapse, transforming it into an internationally-recognised entity today.
In 1975, Dr Persaud took control of the company, which was then called Diamond Liquor Liquid (DLL). Reflecting on his appointment, the 85-year-old industrialist said he was challenged by then Agriculture Minister Gavin Kennard to take up the chairmanship of DLL, Sandbach Parker Group and the sugar estates at Diamond and Leonora.
“So I said to him, ‘sir you want me to take over all of this from tomorrow’, I said ‘sir, this is an impossibility’,” he said, reflecting on the conversation between himself and the then agriculture minister.
Nevertheless, he opted for the position, following a discussion with his wife.
His decision was a life-changing one, as he transformed the industry. Subsequent to his appointment, he held meetings with the various companies and appointed managers as he underscored the importance of collaborating at all levels of the workforce, creating a sense of inclusiveness.
Forty-eight years after occupying the post as chairman, Dr Persaud said, “I stand here very proud to be leaving companies that were almost bankrupt and seeing it to where it is, not only profitable, but the best in the world.”
Under the stewardship of Dr Persaud, DDL grew from being only a manufacturer and exporter of bulk rum, to building a global brand, El Dorado Rums.
Additionally, he has led the way in corporate expansion and aided in the development and acquisition of several subsidiaries in the areas of financial services, food processing, distribution and shipping.
Top awards
In an effort to paint a vivid picture of DDL’s success, Dr Persaud pointed out that the company has been making strides on the international scenes, copping top awards in the renowned International Wine and Spirits Competition.
According to him, DDL has not only copped the Gold Medal Award in the International Wine and Spirits Competition, but has walked away with the trophy for the 8 year old El Dorado Rum. “Eight year is a unique product in its own right… In addition to that, DDL has also won the gold medal… for the 21 year old, 15 year and the 12 year old. Never in the history of this competition, had one company taken almost all the awards. This indeed is something historic; it’s not for DDL but the whole of Guyana.” Collins said. DDL’s board of directors on Friday formally accepted Dr Persaud’s retirement letter.
