Fijian Holdings Ltd shareholders have welcomed the decision by its board to appoint Jaoji Koroi as the next chief executive officer for the group.
At the company’s 35th annual general meeting held at the FMF Gymnasium in Laucala Bay yesterday, shareholders raised concerns at the announcement by the board on the challenges faced by some subsidiary companies of the FHL Group and how some major investments by the company had increased their debt levels.
Shareholder Sereana Qoro said the board should seriously consider reviewing its debt levels and urged the directors to maintain the dividends paid out to all its shareholders.
Ms Qoro suggested that the board appoint people who would be able to make sound judgement on investments so that shareholders could benefit from the decisions.
She said there were serious cash flow issues that the board needed to look at urgently.
FHL board chairman Yogesh Karan said the board was aware of the number of issues and assured the shareholders of appointing people with good leadership qualities.
Mr Karan said the board had implemented some cost cutting, people who were not performing well were asked to leave and they were also looking at diversification to improve revenue and investments.
