Dr Harold Davis Jr. has been appointed Chief Executive Officer (CEO) of the Guyana Sugar Corporation (GuySuCo) effective today, Minister of State Joseph Harmon announced.
He also disclosed that the appointment of a Board of Directors is likely to be done next week.
There was a big hullabaloo over the appointment of a Board of Directors for the entity after the Government had retracted on its announcement of new faces to manage the Sugar Corporation.
Colvin Heath-London as Chairman, with the directors being Komal Singh, Verna Adrian, Fritz Mc Lean, Rosh Khan, George Jervis, Arianne Mc Lean, Vishnu Panday, and Annette Arjoon were announced as the new GuySuCo Board, initially.
There were even advertisements in the local dailies from the National Industrial and Commercial Investments Limited (NICIL) congratulating the individuals on their appointments.
But the Government later claimed that the Cabinet had not finalized its decision.
The APNU+AFC coalition is in the process of reforming the sugar industry, which has been ailing over the years.
NICIL has established a Special Purpose Unit (SPU) to deal with the divestment of assets belonging to four GuySuCo estates which are up for privatization/divestment. These are the Wales, Enmore and Rose Hall and Skeldon Estates.
PricewaterhouseCoopers was the company retained to conduct a valuation of the assets at the estates and by the end of September, the exercise should be concluded.