Supreme Ventures R&E gets new chairman

Businessman Michael Bernard has been appointed chairman of Supreme Ventures Racing and Entertainment Limited (SVREL).

In a statement released yesterday, Supreme Ventures said that Bernard has more than 25 years of executive management experience and is a retired managing director of Carreras Limited. During his tenure as the chief executive at Carreras, he successfully led the company to deliver commendable and continuous growth in shareholder returns, which earned the organisation awards for being the best- performing company listed on the Jamaica Stock Exchange, including 'Best Performing Company for 2010'.

He currently serves as chairman of the board of management of Jamaica College and executive chairman of Peak Bottling Company Limited, in which he is the majority shareholder. Bernard also serves on the board of directors of Carreras Limited, where he heads its audit committee. He is also a director of GraceKennedy Insurance Company Ltd, Salada Foods Jamaica Limited, Sterling Investment Limited, Hardware and Lumber Limited, and New Transport Group Limited. He is chairman of Spike Industries Limited.

"Michael is a brilliant business mind and has a track record of outstanding success. The business community holds him in high esteem. We are confident that we can harness his knowledge and experience to build Caymanas Park and the SVREL business. We have already started to make progress, and we know his leadership will significantly enhance that process as it continues,'' said Supreme Ventures chairman David McConnell.

Supreme Ventures acquired SVREL in March of this year after a lengthy divestment process. Infrastructural and other work has begun at Caymanas, with other gains being made, particularly in the area of purses, which have been increased and are now being paid on time. SVREL most recently saw the most successful Superstakes and Diamond Mile Race Days in the history of horse racing in Jamaica.

Bernard's appointment takes effect today, December 8.