Pub­licly list­ed An­gos­tu­ra Hold­ings Ltd yes­ter­day an­nounced that its board of di­rec­tors ap­proved the ap­point­ment of Ian Forbes, the com­pa­ny’s chief op­er­at­ing of­fi­cer, to act as the chief ex­ec­u­tive of­fi­cer.

In a no­tice on the web­site of the T&T Stock Ex­change, An­gos­tu­ra said Forbes would serve as act­ing CEO from Oc­to­ber 1, 2025, for a pe­ri­od of six months, in ad­di­tion to his sub­stan­tive du­ties. The de­ci­sion was tak­en by the An­gos­tu­ra board at a meet­ing on Wednes­day.

Forbes has been part of an in­ter­im man­age­ment struc­ture at An­gos­tu­ra since Au­gust last year. On Au­gust 23, An­gos­tu­ra said its then CEO, Lau­rent Schun, would op­er­ate pri­mar­i­ly from Mi­a­mi, Flori­da, as the rum and bit­ters in­ten­si­fied its in­ter­na­tion­al ex­pan­sion ef­forts and pre­pared to launch its new­ly styled pre­mi­um rum range in the glob­al mar­ket.

The trans­fer of Schun to Mi­a­mi was meant to en­able the CEO to place in­creased fo­cus on key in­ter­na­tion­al busi­ness de­vel­op­ment ini­tia­tives,” said the com­pa­ny.

“Giv­en this strate­gic arrange­ment for glob­al ex­pan­sion, the fol­low­ing ex­ec­u­tives will sup­port the CEO in man­ag­ing the lo­cal busi­ness op­er­a­tions with ef­fect from Au­gust 26, 2024 (un­til fur­ther no­tice):

• Ian Forbes, chief op­er­at­ing of­fi­cer;

• Rahim Mo­hammed, ex­ec­u­tive man­ag­er, busi­ness ef­fi­cien­cy and shared ser­vices; and

• Kathry­na Bap­tiste As­see, group gen­er­al coun­sel/cor­po­rate sec­re­tary.

In Jan­u­ary this year, An­gos­tu­ra an­nounced that the con­trac­tu­al term of the em­ploy­ment of the CEO, Schun, came to an end on Jan­u­ary 17, 2025, and that the re­cruit­ment process for a new CEO was on­go­ing.

“In the in­ter­im, the arrange­ments for the day-to-day man­age­ment of the op­er­a­tions of the com­pa­ny as out­lined in the no­tice to share­hold­ers pub­lished on Au­gust 23, 2024, will con­tin­ue,” the com­pa­ny said.

In April 2025, the pre­vi­ous An­gos­tu­ra board an­nounced that it had agreed to the in­clu­sion of the po­si­tion of deputy CEO in the com­pa­ny’s ex­ec­u­tive man­age­ment struc­ture. In that re­gard, the com­pa­ny said, Rahim Mo­hammed (for­mer ex­ec­u­tive man­ag­er, busi­ness ef­fi­cien­cy and shared ser­vices) was ap­point­ed to the po­si­tion of the deputy CEO of An­gos­tu­ra Hold­ings Lim­it­ed and its sub­sidiaries, with ef­fect from April 25, 2025.

In its no­tice yes­ter­day, An­gos­tu­ra an­nounced the im­me­di­ate ces­sa­tion of the in­ter­im arrange­ments for the day-to-day man­age­ment of the com­pa­ny’s op­er­a­tions (in the ab­sence of a CEO).

The de­ci­sion of the new board of An­gos­tu­ra means the com­pa­ny has an act­ing CEO for a six-month pe­ri­od and a sub­stan­tive deputy CEO.

This is the third time Forbes has been named the act­ing CEO of An­gos­tu­ra Hold­ings Ltd.

He was first ap­point­ed to act in the role while he served as ex­ec­u­tive man­ag­er at the com­pa­ny in April 2019 un­til De­cem­ber 2019. He was reap­point­ed act­ing CEO again in Sep­tem­ber 2020, when Pe­ter Sand­strom re­signed. Forbes act­ed as CEO un­til Jan­u­ary 2023, when Schun was ap­point­ed.

An­gos­tu­ra’s new board was ap­point­ed on Au­gust 6 at a spe­cial meet­ing of share­hold­ers. The board is chaired by for­mer Min­is­ter of Sport and Youth Af­fairs, Gary Hunt. The oth­er di­rec­tors are Pa­tri­cia Dindyal, Shiv­al Ma­haraj; Rox­ane De Fre­itas and Jen­nifer Fred­er­ick.