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After 48 years…Yesu Persaud hands over reins of DDL
By Kiana Wilburg
Business guru, Mr. Yesu Persaud officially handed over the reins of Demerara Distillers Limited (DDL) to Mr. Komal Samaroo yesterday.
Mr. Samaroo, who has served in the capacity of Managing Director for several years, expressed his enthusiasm to fulfill the responsibilities of his new position with integrity. Mr. Persaud will now serve in the capacity of advisor.
The occasion was facilitated in DDL’s Boardroom in Kingston, Georgetown.
Mr. Yesu Persaud (left) shakes hands with the new Chairman, Mr. Komal Samaroo
In his remarks, the 85-year-old reminded that DDL was a company which he adopted in a state of bankruptcy. But with much patience, investment and careful execution of plans, it was transformed into an entity that produces internationally-renowned spirits, under the popular brand name “Eldorado Rum”
The ability to take a product from being literally unknown to international acclaim is one that was also inherited by Samaroo.
Persaud said yesterday that he passes on the baton to a most competent person, who worked feverishly behind the scenes. Samaroo, he pointed out, was away for some eight years in North America, creating a market for the Eldorado Rums.
“The Company is on firm ground… Samaroo and I have worked together for several years and he knows everything that I know. And after 48 years, I decided that the time is now right for me to leave the scene and hand the mantle over to him.
“I’m not getting younger. I have other things which I will be working on such as The Trust Company (Guyana) Limited. I will not be leaving the scene totally, but will remain an advisor. I will always be available to give advice when needed…”
“DDL is capable and competent now…Samaroo and I have come a long way and to create a brand from zero in this competitive world is not something easy.”
DDL, he reminded, now produces and distributes a number of beverages including internationally recognized brands such as Pepsi, 7Up, Mountain Dew and Gatorade.
Samaroo expressed that his work in North America has helped him in understanding the nature of the international market and as such, has been able to develop a methodology on how to access those markets.
“In the last few years we have seen significant growth. In 2012, we grew by 23 percent and I anticipate that the 2013 report will show that we have grown in excess of that. We are on a strong growth path.”
However, in light of the growing incidence of alcohol abuse, Samaroo firmly asserted that while DDL produces one of the most well-known and acclaimed spirits, it will continue to encourage persons to always drink responsibly.
“As a company, our policy is to encourage the responsible consumption of alcohol. It is not in the interest of our company for people to abuse alcohol. We prescribe international best practice as it relates to investment in rehabilitation centres for alcoholics. We would like to say that we believe we have a social responsibility and we will continue to stand by that commitment to assist where we can. There is only so much you can do when managing a complex company, but we will be supportive of any well-managed effort that provides that service.”
At a press conference last year, Dr. Persaud had expressed concern about problems at GuySuCo which have followed that corporation into the new year. And the New Chairman shared those sentiments when questioned by this publication.
“Because our business depends on molasses, which we get from the sugar company, the question of continued and uninterrupted supply remains an issue of concern. So far they are supplying and we are getting our requirements, but the margin of excess that existed before has reduced and we are watching the situation. While we are worried we hope it does not decline further. We do have commercial discussions with the company and they have given us the assurance that they will continue to meet the requirements.”
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