Chief operating officer Ian Forbes has moved upstairs once again at Angostura Holdings, nine months after Laurent Schun vacated the CEO seat at the bitters and rum group.
The Trinidad & Tobago-headquartered company confirmed earlier this week that Forbes (below), who has been with Angostura since mid-2017, will take on the CEO responsibilities on an interim basis for a third time. Retaining his current role as COO, which he has held since 2020, Forbes’ temporary promotion comes nine months after previous CEO Laurent Schun left the company.
Local reports in January said that Schun, who left Pernod Ricard in 2022 to join Angostura at the start of 2023, had been working out of Miami since August last year, “solely in an advisory capacity in respect of specific aspects of the company’s international business development”. A disclosure to Trinidad & Tobago’s stock exchange at the time stated that “the contractual term of the employment of … Schun came to an end on 17 January”.
A separate filing this week stated that Forbes will “act as the CEO of Angostura Holdings … with effect from 1 October for a period of six months”. The executive was previously the temporary CEO from September 2020 until Schun started in January 2023, and also from April to December 2019, when he was in his first job with Angostura as executive manager of operations.
Group sales for Angostura in 2024 totalled TTD1.06bn (US$154m), inching up 1% on the year prior. While international sales climbed by 12% in the 12-month period, “the local market segments faced some challenges”, the company admitted.
