Two weeks af­ter ad­vis­ing that CEO Lau­rent Schun will take on an ad­vi­so­ry role on the com­pa­ny’s in­ter­na­tion­al ex­pan­sion from Mi­a­mi, Flori­da, An­gos­tu­ra Hold­ings Lim­it­ed has ap­point­ed a new ex­ec­u­tive man­ag­er for lo­cal sales.

In a no­tice on the Trinidad and To­ba­go Stock Ex­change, An­gos­tu­ra an­nounced that Nigel Balka­ran has been ap­point­ed to the po­si­tion.

The no­tice stat­ed that he will take up the role from Oc­to­ber 1, 2024.

An­gos­tu­ra’s for­mer ex­ec­u­tive man­ag­er for lo­cal sales, Cur­tis Du­ri­ty re­signed from the po­si­tion with ef­fect from June 24, 2024.

No rea­son was pro­vid­ed by the rum and bit­ters pro­duc­er for the de­par­ture of Du­ri­ty, who had been ap­point­ed to the po­si­tion on March 4, 2024.

An­gos­tu­ra de­clared af­ter-tax prof­it of $66.15 mil­lion for the first six months of its 2024 fi­nan­cial year, a de­cline of 14.93 per cent com­pared to $77.76 mil­lion record­ed for the same time last year. The dip was said to be par­tial­ly caused by a pro­duc­tion line up­grade for the group’s An­gos­tu­ra chill line.

For the pe­ri­od Jan­u­ary 1 to June 30, An­gos­tu­ra Hold­ings record­ed a lo­cal brand­ed rev­enue short­fall of $19 mil­lion or 7 per cent, ac­cord­ing to the unau­dit­ed fi­nan­cials. Dur­ing the first half of 2024, there were pos­i­tive trends as For­res Park rev­enue grew by 1 per cent, pre­mi­um rums by 8 per cent, and agency brands by 5 per cent over the com­par­a­tive pe­ri­od.

An­gos­tu­ra CEO Schun moved to Mi­a­mi, Flori­da on Au­gust 26, 2024, where it was said he would have in­creased fo­cus on key in­ter­na­tion­al busi­ness de­vel­op­ment ini­tia­tives.

Fol­low­ing that move An­gos­tu­ra chief op­er­at­ing of­fi­cer, Ian Forbes, ex­ec­u­tive man­ag­er of busi­ness and shared ser­vices, Rahim Mo­hammed, and group gen­er­al coun­sel/cor­po­rate sec­re­tary Kathry­na Bap­tiste As­see, were tasked with sup­port­ing the CEO in man­ag­ing the lo­cal busi­ness op­er­a­tions with ef­fect from Au­gust 26, 2024.