Angostura Holdings Limited has announced the appointment of Peter Sandstrom as chief executive officer effective yesterday, January 13.
According to a release on the Trinidad and Tobago Stock Exchange, Sandstrom received statutory approval for on January 8 and was then confirmed by the company’s Board of Directors.
Sandstrom served in numerous executive roles at spirits companies including Diageo, where he worked at its offices in Africa and Europe. He most recently served as chief executive officer at Harviestoun Brewery in Scotland.
His selection comes on the heels of the resignation of former CEO Genevieve Jodhan after two separate financial audits regarding suspected breaches of the company’s procurement policy.
During the investigation, auditing firm PriceWaterhouseCoopers probed the award of contracts over one million dollars, beyond the $500,000 limit of her role, to MH Tactical Response Group, New Order Security Services and Corporate Asset Protection, without Board approval.
Jodham’s resignation became effective April 4, 2019 but the executive had been on administrative leave six months prior.
Angostura’s executive manager for operations, Ian Forbes, had been acting in the role of chief executive while the company sought a permanent replacement.
Angostura is a leading Caribbean rum and bitters company trading on the Trinidad and Tobago Stock Exchange.