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FOCOL elects new board of directors

Focol Holdings Limited (FOCOL) has elected a new board of directors. Franklyn Wilson (pictured), Alfred B Coakley, Anthony Robinson, Deborah Archer, Rosel Moxey, Russell Miller, John Bethell and Walter Wells have all been elected to serve as directors. (Photo courtesy FOCAL)

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Date:
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TheBahamasInvestor.com
Friday, April 4, 2014
Friday, April 4, 2014

During FOCOL’s annual general meeting March 26, 2014, Wilson was reappointed director – a position he has held for more than three decades.

Four directors did not stand for reelection – Carol Lashley, Maitland Cates, Emil Symonette and Sir Albert Miller, who stepped down as FOCOL’s chairman.


Lashley will continue on as corporate secretary and legal counsel – positions she has held since 1992.

The directors will serve during the following year and until their successors are elected.

Wilson, who is also the incoming chairman, welcomed three new directors–Miller, Bethel and Wells–whom he called “outstanding businesspersons.”

“The board anticipates the addition of one more, but the matter is being deferred in the context of evolving strategies,” Wilson said.

“So, being chairman, president, director, manager or staff within the FOCOL Group is serious business regardless of rank. I, therefore, request everyone on the FOCOL team, regardless of your role today, to renew your commitment to do the best job possible.”

Minister of State for Finance Michael Halkitis has warned of the effects of not implementing fiscal reform, saying failure to adopt a new system of taxation would reduce investment and harm investor confidence.

The US Department of the Treasury and the Internal Revenue Service have announced that jurisdictions that have reached agreements in substance with the US on the terms of intergovernmental agreements under the Foreign Account Tax Compliance Act can be treated as having agreements in effect until the end of 2014.

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