GraceKennedy's Director Amauri Rafael Diaz is retiring from the board. This was announced by Chairman and CEO Douglas Orane at the Company's annual General Meeting held on May 30, 2005.

In making the announcement, Mr. Orane thanked Mr. Diaz for his many years of service to GraceKennedy. Mr. Orane noted that the guidance he received from Mr. Diaz over the years had contributed greatly to the success of the company.

Mr. Diaz, a retired Chairman/Chief Executive Officer of GraceKennedy Limited, has given over 35 years of service to GraceKennedy Ltd. He began his career working as an Accountant with the Commonwealth Development Corporation, serving this organization in several different Caribbean countries for 16 years. It was in this capacity that he came to Jamaica in 1961. Five years later, he joined The Jamaican Hotels Limited as Comptroller/ Secretary.

In 1969 he joined GraceKennedy Limited as an Accountant, and assumed the post of Financial Controller in 1973. He was later appointed Finance Director in 1976. The position of Deputy Chairman was added to his portfolio in 1980. He was appointed Chairman/Chief Executive Officer of GraceKennedy Limited in 1989, serving in both capacities, until his retirement in 1995. He agreed to stay on as Chairman until he demitted that position on 31st March 1998, but he retained the position of Director of GraceKennedy Limited.

Under Mr. Diaz' leadership, there were numerous developments and achievements. He initiated Total Quality Management (TQM) and ISO 9000, with three companies in the Group becoming certified. He took the lead in the private sector and put in place within the Grace, Kennedy Group, the policies and programmes which would enable the Group to cope in the rapidly evolving global marketplace. He was inducted into the Private Sector Hall of Fame in 1994. In his capacity as Chairman, he was instrumental in the merger of Kingston Wharves Limited and Western Terminals Limited in 1994, which set the framework for the success of that company today.

Mr. Diaz is deeply committed to the GraceKennedy's philosophy that corporations must give something back to the community which supports them and must be prepared to provide strong and positive leadership, not only in commercial and industrial circles, but also in the wider society. He therefore advocates that Grace, Kennedy translate this philosophy into tangible terms, and has given voluntary service, as a personal example, to a number of organizations including Addiction Alert Organization (AAO) and the University of the West Indies Development and Endowment Fund. He is Honorary Vice President of the Young Men's Christian Association (YMCA) and Chairman of the Jamaica Maritime Institute Trust Fund.

Mr. Diaz served as Chairman of Trafalgar Development Bank as well as Trafalgar Commercial Bank Limited; and as a Director of The NCB (Group) Limited and National Commercial Bank Jamaica Limited.

Mr. Diaz is still a Director of a number of Companies in the Grace, Kennedy Group including Jamaica International Insurance Company Limited and First Global Financial Services Limited.

Posted: May 31, 2005