FHL’s Koroi seconded to RB Patel

April 26, 2008 12:05:36 PM

• A⁺ 
• A^-
• |
• 
• |
• 
• |
• 

Fijian Holdings Ltd chief executive officer Jaoji Koroi has been seconded to RB Patel Group Ltd as executive director.

In a statement, FHL says the position of FHL CEO would not be filled as the strategic responsibilities of that role would now be assumed by the group managing director (Sitiveni Weleilakeba).

In addition, Tevita Gonelevu has been appointed manager financial markets responsible for the management of the Fijian Holdings Trust Management Limited and FHL Securities Ltd.

Finau Soqo has been appointed manager group investments and strategic planning. She would also be responsible for the properties portfolio.

Weleilakeba said these changes form part of FHL Group’s strategy to rationalize and strengthen group alignment.

“Jaoji (Koroi’s) secondment is also part of his training requirements by being exposed to a very competitive environment.

“His movement has created opportunity to train and give Gonelevu and Soqo additional operational responsibilities.”

Koroi’s appointment follows the partial takeover by FHL of RBG. The transaction was ground breaking for Fiji, being the first ever takeover of a public company listed on the South Pacific Stock Exchange.

RBG owns and operates the RB Patel supermarkets in Fiji. FHL is a local Fijian investment company which has investments in tourism, manufacturing, building and construction, real estate, media, as well as the New World supermarkets in Fiji.

Both RBG and FHL are listed on the SPSE. The transaction valued the RBG share capital at FJ$42 million.