FSC appoints former executive as Chairman

January 28, 2009 10:51:24 PM

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The Fiji Sugar Corporation Ltd (FSC) has appointed one of its former executives as chairman of the board of directors.

Gautam Ramswarup’s appointment was made today by FSC chief executive Deo Saran.

He replaces Suva lawyer Alipate Qetaki who will remain on the board as a director.

Saran said Ramswarup brought to the sugar industry a wealth of experience given that he had spent 15 years there.

“A former senior executive of the Corporation, he held the position of chief general manager and company secretary from 1979 until his resignation in 1987 to emigrate to Australia,” he said.

“Ramswarup’s appointment comes at a time when the sugar industry is at the crossroads with the reduction in preferential prices and restructuring of the industry.”

In a financial statement released this week, the FSC recorded a $9.75 million loss in the second half of its financial year ended November 2008.
 
Although it recorded a total revenue of $156.6 million for the half year, there was no detail on how exactly the money was spent or how the country’s only sugar miller ended up with a $9.75 million loss.