International icon, Dr. Yesu Persaud retires at 85

Nov 17, 2013 News

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By  Kiana Wilburg
“In order to run any business successfully, there are three key things you should do; have good interpersonal relations, have good human relations and never believe you know it all.”
That was the sound advice of one of Guyana’s international icons, Dr. Yesu Persaud to his successor, after he informed members of the media corps yesterday, that after 48 years of service, he would be retiring from his position as Chairman of the Demerara Distillers Limited (DDL).
Dr. Persaud’s retirement will be effective from December 31st making way for Mr. Komal Samarro to assume the position of Chairman on January 1, 2014.

During the press briefing yesterday at the Pegasus Hotel, Rudy Collins, one of the directors of the conglomerate, said that the Board formally accepted the notice of resignation of Dr. Yesu Persaud last Friday at a statutory meeting.
This is after almost five decades of sterling service to DDL.
He reminded that Dr Persaud is solely responsible for catapulting Guyana on the international market with its Eldorado Rum which is globally recognized as one of the best in the world.
Dr Persaud also provided guidance for corporate expansion and the development and acquisition of several subsidiaries in a variety of sectors including, financial services and food processing.
This sterling icon has received several local and international awards for his impeccable leadership and service.
Dr. Persaud’s contribution to the rum industry in particular and to Guyana’s development in general has been outstanding. It only bears, noting that DDL today is the one nationalized entity that remains comfortably afloat after the turbulence experienced during Guyana’s formative years. DDL and its related companies became Dr. Persaud’s family, some conceived by him, but all cared for with the love and attention that only a devoted parent can give.”
While speaking on the significant contributions made by the business icon Collins noted too that Dr. Persaud’s timing is impeccable in everything he does, and he leaves the company at a time when it is experiencing a level of sustained growth on a highly competitive market.
The feature address by the retiring business tycoon was extremely heartwarming as he informed the audience of his trials with the company as he flipped through the pages of “his-story.”
He said when he took over the company in 1975, it was bankrupt but said that the challenge was extended to him to reshape the company and many knew that he would never disappoint. And he didn’t.
Not only did he restructure the company and mould it into a monument of success, but he added it to a part of Guyana’s history that will always remain a shining star even in the face of its shaky past.
Dr Persaud however expressed concern about the current state of the sugar industry against the backdrop that many of the company’s products are made from the by-products of sugar.
He said that in 1969, Guyana produced 369,000 tonnes of sugar whilst today, it produces about 190, 000 tones which is below the target that Guyana has agreed to supply its European market which is its largest customer.
He also spoke to the fact that millions of dollars have been expended on the Skeldon sugar factory which is unable to reach its expectations.
“I mean, China doesn’t do sugar and they went and got the Chinese to construct a factory. If they wanted to get a proper plant, then either Brazil or India would have been able to do a better job. Now you have a factory that is just sitting there using up taxpayers money,” expressed Dr. Persaud.
Nevertheless, while the industrialist can choose to live in any part of the world, he has decided to settle in his country, as he said that he “simply enjoys helping people to help themselves.”
The 85-year-old said, “I have been going on the fast lane for too long, I need to slow down a bit.”
He also highlighted that he is extremely proud that the company has been able to stand out among the best of the best as it expanded over the years.
Today, the company produces and distributes a variety of globally recognized beverages. These include soft drinks such as Pepsi, 7UP, Mountain Dew and Gatorade.
The Chartered Accountant also holds some of the most prestigious awards both locally and internationally.
These include; The Golden Arrow of Achievement [AA] in 1981 for the development and expansion of the distilling industry in Guyana and the Cacique Crown of Honour [CCH] in 1983 for the development of new industries in Guyana.
Also significant is that the University of Warwick named the centre for Caribbean Studies after him as it is now called The Yesu Persaud Centre for Caribbean Studies.
In addition, the Board of Directors, Management, Staff and Shareholders of DDL thank Dr.Yesu Persaud for his service and wish him long life and continued achievement.

 

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