James McLetchie has been ap­point­ed pres­i­dent and CEO of Massy Hold­ings Ltd.

The group an­nounced McLetchie will take up his new role on Oc­to­ber 1, 2025.

Massy said in a news re­lease, “This lead­er­ship tran­si­tion fol­lows a care­ful­ly struc­tured suc­ces­sion process guid­ed by the group’s suc­cess­ful busi­ness strat­e­gy and long-term am­bi­tions. Mr. McLetchie will suc­ceed Mr. David Af­fon­so, who will re­tire on Sep­tem­ber 30, 2025, af­ter more than three decades of dis­tin­guished ser­vice.”

McLetchie joined Massy in Au­gust 2023 as ex­ec­u­tive vice pres­i­dent and group chief fi­nan­cial of­fi­cer and was ap­point­ed deputy CEO in Jan­u­ary 2025.

The re­lease said, “Over the past 18 months, he has worked close­ly with Mr. Af­fon­so and the board con­sol­i­dat­ing the group’s plans for sus­tained growth and val­ue cre­ation over a wider re­gion­al and in­ter­na­tion­al foot­print. McLetchie brings to his new role con­ti­nu­ity, ex­cep­tion­al lead­er­ship, strate­gic clar­i­ty, and ex­ten­sive in­ter­na­tion­al ex­pe­ri­ence lead­ing high-per­form­ing teams through growth, trans­for­ma­tion, and merg­ers & ac­qui­si­tions in glob­al mar­kets.”

Massy chair­man Robert Ri­ley stat­ed, “James is the right leader for Massy’s next chap­ter, bring­ing both deep glob­al ex­pe­ri­ence and a peo­ple-first ap­proach. We thank David for his out­stand­ing con­tri­bu­tions, in­clud­ing lead­ing the de­vel­op­ment of our In­te­grat­ed Re­tail and Dis­tri­b­u­tion port­fo­lio, which now gen­er­ates over 65 per cent of Group rev­enue.”

McLetchie said, “I am ho­n­oured by the trust placed in me. Build­ing on the foun­da­tion laid by my pre­de­ces­sors, my fo­cus will be on un­lock­ing new op­por­tu­ni­ties for our peo­ple, serv­ing cus­tomers, and part­ner­ing with stake­hold­ers to de­liv­er en­hanced val­ue through growth that ben­e­fits com­mu­ni­ties and cre­ates op­por­tu­ni­ties for gen­er­a­tions to come.”

Al­so on Tues­day, in the com­pa­ny’s third quar­ter re­sults, the group re­port­ed rev­enue rose to $11.8 bil­lion, an in­crease of $451mil­lion or 4 per cent over the pri­or year. Prof­it be­fore tax (from con­tin­u­ing op­er­a­tions) grew by 13 per cent to $810 mil­lion, and net cash gen­er­at­ed from op­er­a­tions in­creased by 27 per cent to $998.5 mil­lion, re­flect­ing strong un­der­ly­ing per­for­mance and im­proved work­ing cap­i­tal dis­ci­pline across the group.