Sunday 25 August, 2019

Peter Chin leaves LASCO

Chin is leaving the group of companies after 27 years to pursue other interests.

Chin is leaving the group of companies after 27 years to pursue other interests.

Peter Mark Chin has resigned from the position of Deputy Executive Chairman and Managing Director for LASCO Distributors Limited effective April 30.

Chin is leaving the group of companies after 27 years to pursue other interests, the company said in a release.

“The experience gained and being a part of the evolution and success of the LASCO companies was truly rewarding,” Chin said.

Chin also hailed Lascelles Chin, founder and executive chairman of the LASCO Affiliated Companies as a mentor and visionary.

With reference to the staff at the LASCO Affiliated Companies Peter Chin said: “I am absolutely proud to have led an excellent group of people.  They are indeed the backbone of the organisation and contributed to its many successes over the years”.

After moving up the ranks in various senior capacities (General Manager, Marketing Manager, Logistics Manager), Peter Chin was appointed as Managing Director of LASCO Distributors Limited on November 22, 2011, a year after the company was listed on the Junior Market in 2010. He was appointed as Deputy Executive Chairman in April 2016.

During his tenure as Managing Director at LASCO Distributors Limited, he oversaw the successful launch of leading brands such as iCool, and also strong growth in revenues and profit. The last audited financial statements for the period ending March 31, 2018, for LASCO Distributors Limited, reported a record net profit of over JMD$1 billion and revenues of over $16 billion. 

Peter Chin stated that he is confident in the leadership, structure and staff of the LASCO Affiliated Companies and anticipate that the companies will continue to be aggressive in rolling out new innovations, expanding the businesses and ensuring profitability for their shareholders.  

The LASCO Affiliated Companies are comprised of LASCO Distributors Limited, LASCO Manufacturing Limited and LASCO Financial Services Limited and are leaders in the distribution, manufacturing and financial services sectors.  All three companies were listed on the Jamaica Stock Exchange in October 2010.


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