Eddinton Powella new Vice President at Caribbean Utilities Company
Eddinton Powell,CUC's newly appointed Vice President Finance and Chief FinancialOfficer.
Mr. Eddinton M. Powell has been appointedVice-President, Finance, and Chief Financial Officer of the CaribbeanUtilities Company.
Mr. Powell, who hails from the districtof East End, joined CUC in 1982 as a Trainee Accountant and heldvarious accounting positions before being promoted to FinancialController in 1991. He continued to move up the ranks and in 1997was promoted to Vice-President Finance, the position he held untilhis appointment to Vice President Finance & CFO in 2001.
Mr. Powell is responsible for the Company'sFinancial Services and Materials Management departments. His dutiesinclude participating in corporate planning and strategy developmentwith particular emphasis on financial planning, managing the cashflow, maintaining access to capital markets, and managing exposureto financial risks. He is also responsible for analysing and reportingfinancial information to the senior management, the Board of Directors,investors and lending institutions.
He will also oversee the production of financialreports and maintaining dialogue with analysts and ratings services,within the guidelines of the Ontario Securities Commission, toensure that their models and reports accurately reflect CUC'sprospects.
CUC's President & CEO, Mr. Peter A.Thomson, said, "Eddinton is a shining example of what canbe achieved through hard work and dedication. I thank Eddintonfor his contribution over the past 19 years and I am confidentthat he will continue to display the same high level of enthusiasmas he performs his duties. The CUC Family is extremely proud ofhis achievement and wish him much success in the years ahead."
Mr. Powell remarked, "I am proud tobe part of a highly motivated and very competent team at CUC.Our Company has seen tremendous growth over the past 35 years,was the first local company to be listed on an international stockexchange and today has a market capitalisation of almost US$300million. I appreciate the confidence that our Board of Directorsand Management Team have shown in my ability. When I joined CUC19 years ago I started out as a trainee accountant. I hope thatmy achievement will serve as an inspiration to other young Caymanianprofessionals. There is no glass ceiling if you are willing towork hard, find ways to create value in the organization, be patient,and stay focused. "
Mr. Powell graduated from the Cayman IslandsHigh School and studied at Morgan State University in Marylandand later returned to Cayman to continue his studies at the InternationalCollege of the Cayman Islands where he earned a Bachelor's Degreein Accounting. In 1989 he graduated from Nova Southeastern University(NSU) in Florida with a Master's Degree in Accounting. He hasalso completed post-graduate courses in investment banking atthe New York Institute of Finance.
Mr. Powell, his wife Ernestine and theirtwo daughters, Ravena and Lashonda, reside in Spotts-Newlands.He serves as an elder for the Savannah United Church, a memberof the area council for the United Church of Jamaica and the CaymanIslands, a member of the Triple C School's board and a memberof the American Institute of Management Accountants.