CAL severs another Chief Financial Officer

(Trinidad Express) State carrier Caribbean Airlines (CAL) has severed its chief financial officer Shiva Ramnarine from the Company.

Aviation sources informed the Express that Ramnarine was asked to leave the job on Tuesday afternoon following a meeting with CAL director Patricia Kong-Ting and acting chief executive Captain Jagmohan Singh.

He returned a company vehicle, laptop computer and cell phone to CAL’s head office at Piarco, the Express was told.

It is understood that Ramnarine and Kong-Ting did not agree on several matters with regard to the transformation plan for the cash-strapped airline.

Contacted yesterday Ramnarine confirmed he was severed from the airline but declined further comment.

It is the second CFO the company has lost in recent months.

Three months ago, former CFO Andre Mills was made redundant by Ramnarine’s appointment.

The national carrier is now without two key managers—it has an acting chief executive following the resignation of former acting CEO Robert Corbie two months ago and is now without a permanent CFO.

The company recently lost its human resource manager Anisa Allaham-Hosein who resigned from the airline while executive manager of revenue management Wayne Henry died earlier this year.

The company has interviewed a potential candidate for the chief executive position, the Express understands.

The previous CAL board of directors was axed by Finance Minister Larry Howai in May and the company now operates with an interim board chaired by Philip Marshall which includes Kong-Ting, vice chairman Vishnu Dhanpaul, Indira Ramkissoon, Captain Azad Niamat and Jamaican director Dennis Lalor.

Apart from corporate governance issues with the previous board chaired by Rabindra Moonan, CAL reported a TT$700 million loss for its financial year 2012 and had to write off some $200 million related to alleged credit card and cargo fraud.

The company is expected to submit its outstanding financial statements for 2011 and 2012 to Howai this month.

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