McConnell, Bell retire from Lascelles

The Board of Lascelles DeMercado yesterday announced that William McConnell, group managing director, and Anthony Bell, group finance director, have retired from the company.

The retirement of both men will take effect on June 30, 2011.

McConnell joined Wray & Nephew over 38 years ago and was made managing director in 1977.

He later became managing director of Lascelles DeMercado in 1990, parent company to Wray & Nephew.

Bell joined Wray & Nephew in 1982. He became managing director in 1988 before transitioning to the post of group finance director in 2002.

In its announcement to the stock exchange yesterday, the company noted that both McConnell and Bell felt their retirement would allow the group to enter its next phase of development following the takeover by the CL Group in 2008.

In 2007 Trinidad and Tobago-based Angostura Limited made a bid to take over Lascelles, with the deal being closed a year later in July 2008.

"It's just time; as you know sometime ago as the managing director, myself and colleagues had certain aspirations for the company and those aspirations I suppose you could say were reached when we had an offer from Angostura to dispose of the shares," McConnell told The Gleaner yesterday.

"And at that time, the offer document had said if the transaction was successful, then both George Ashenheim, as chairman, and myself would step down. Mr Ashenheim stepped down immediately but I was asked to remain on for a while ... ," he explained.

Successors to the positions were not announced, but are expected to be named at the company's upcoming annual general meeting.

Both McConnell and Bell will be available to assist in any transitioning exercise.