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Aug 7, 2009

Shake-up of Citrus Growers Assn Directors

Story PictureThere is conflict in the Citrus Valley and it has nothing to do with the price of oranges. It has to do with the proposed removal of three directors by the Citrus Growers Association and its subsidiary, Investment Company Limited. The two companies no longer want former C.G.A. chairman, Frank Redmond, Mike Dunker, and C.E.O. of Citrus Products of Belize Limited, Dr. Henry Canton, to represent them. They want to replace them with business woman, Rosella Zabaneh, citrus grower, Antonio Zabaneh and Denzil Jenkins. Canton took the matter to the court seeking an injunction to stop C.G.A. from removing him. But the court would not get involved in the internal battle and ruled against Canton. And since then, C.G.A. has placed advertisements in the media claiming that C.P.B.L.’s Board ignored the formal request made by the association of growers for an August eleventh extraordinary meeting. Instead, they are calling a meeting for the following day on different terms. In a telephone conversation with Redmond this evening, he said while the I.C.L. and C.G.A. want to remove him, Canton and Dunker, it is the shareholders who will decide whether they want them to remain or not. And that vote will have to come from a three-fourth majority of C.P.B.L. shareholders. The other two directors not being targeted for removal are Charles Woods of Caribbean Tobacco Company Limited and Patrick Polack. It’s big news in a hundred million dollar industry.


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