Sunday, May 26, 2024
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Koroi to continue as FHL Group lead

Fijian Holdings Limited today announced the reappointment of Jaoji Koroi as FHL’s Group Chief Executive Officer for a further term of 4 years, effective from 01 May

In a statement, FHL said the decision reflects the confidence of the Board of Directors in Koroi’s leadership and strategic vision.

FHL said under his leadership, the FHL Group has achieved record revenues, and profits before tax and delivered double-digit growth in its Holding Company’s portfolio.

The Group has progressively rebuilt its annualized dividend since COVID-19 while the Group performance has surpassed the pre-pandemic levels with all subsidiaries contributing positively to the Group’s profitability.

FHL said in pursuit of FHL’s core purpose, 10 percent of its capital base has been allocated for investment alongside i-Taukei businesses, while FHL continues to make targeted investments that maximize returns to its shareholders.

FHL said it also diversified funding sources by successfully raising and listing Fiji’s first-ever corporate bond of $30 million.

With a progressive approach to staff engagement, the Group enhanced its employee medical and term life benefits to 80 percent of its participating subsidiaries – marking an improvement of nearly 80 percent coverage since 2021.

Mr Koroi expressed gratitude for the renewed trust and confidence placed in his leadership.

“I am honoured to be given another term to continue leading the FHL Group. We have an outstanding team and together we will keep striving for excellence and value creation for all our stakeholders,” he said.

FHL Group Chairman Rokoseru Nabalarua said the renewal of Mr Koroi’s contract would ensure stability and continued progress for FHL.

“We look forward to this new chapter under Jaoji’s leadership, and we are confident that it will propel the company towards further success and innovation over the next 4 years.”

Ilaitia Ravuwai
Ilaitia Ravuwai
Journalist | news@fijilive.com

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