Georgetown: After serving Demerara Distillers Limited (DDL) five decades at its helm, Chairman of the Board of Directors, Dr. Yesu Persaud passed the mantle on today.
This was announced during a press conference at the Pegaus Hotel. His retirement will take effect on December 31, 2013. Taking over the mantle be Komal Samaroo.
The business giant took over DDL in 1975 when it was named ‘Diamond Liquor Ltd’. “I stand here very proud to be leaving a company or companies, and seeing where they are today, and not only because they are profitable but they are producing the best of the best of the world,” Dr. Persaud said.
While the option is open to him to return and live in England or Canada, Dr. Persaud said he has decided to remain in his homeland to “help people help themselves.”
“I have been going on the fast lane for too long, I need to slow down a bit,” the 85 – year – old business icon said. When questioned, Dr. Persaud said that his high point would be the company being able to produce branded products.
Yesu, Guyana’s most prominent industrialist received several international and national awards including: the Gandhi Organisation Plaque for his contribution to promoting Indian culture in Guyana, the Cacique Crown of Honour for the development of new industries in Guyana in 1983, and the Glory of India Award and Certificate of Excellence by the India International Friendship Society in 2005. In 2006 India honoured him with the Pravasi Bharatiya Samman for his outstanding contributions in business and Indian history and culture. Persaud is a founding member of Indian Arrival Committee which was later converted into the Indian Commemoration Trust. He is one of the main persons responsible for creating the Monument Garden which marks the arrival of the first batch of Indian indentured labourers to Guyana in 1838. He is one of the founder members and life member of Organization of People of Indian Origin (GOPIO). Persaud is also credited with contributing to the restoration of democracy in Guyana. He was involved, in the 1990s, in the pro-democracy movement, GUARD, and campaigned tirelessly for international human rights organisations to observe Guyana elections. He is also involved in a number of charitable institutions including the University of Guyana’s endowment fund, the Cheddi Jagan Children’s Fund, the Cheshire Home for Disadvantaged Children and others which help needy children obtain an education.
He also served as President of the Guyana Manufacturers Association, Vice President of the West Indies Rum and Spirits Association, and a member of the Advisory Group to the Caribbean’s Chief Trade Negotiator on CARICOM international negotiations.
He has also been an Associate Fellow of the University of Warwick’s Centre for Caribbean Studies for over 10 years. He was also granted an honorary doctorate by the University of Warwick for his work in helping the restoration of democracy in Guyana in 1993 plus his skills as a businessman in making ‘El Dorado’ into a quality world brand and the creation of the Institute for Private Enterprise Development. The University of Warwick has renamed its Centre for Caribbean Studies after business tycoon Yesu Persaud.
Also, Dr Persaud was also given the Order of Bernardo O’Higgins which is the highest civilian honour awarded to non-Chilean citizens. This award was established in 1965 and named after one of the founders of the Chilean state general, Bernardo O’Higgins, who was the leader of the struggle for independence of the Spanish colonies in the Americas from 1810 to 1826.
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