January 13, 2025
PRESS RELEASE
FOR IMMEDIATE RELEASE
DERRIMON TRADING ANNOUNCES LEADERSHIP TRANSITION: IAN C. KELLY APPOINTED CHIEF EXECUTIVE OFFICER
DERRICK COTTERELL, FOUNDER AND CEO, TRANSITIONS TO EXECUTIVE CHAIRMAN AFTER
26 YEARS OF TRANSFORMATIVE LEADERSHIP
(Kingston, Jamaica) – Derrimon Trading Company Limited (DTL) is pleased to announce the appointment of Ian C. Kelly, CD, as its new Chief Executive Officer, effective January 1, 2025. Mr. Kelly, who has been with Derrimon since 2011, brings a wealth of experience and leadership to this role, having served in pivotal positions such as Group Chief Financial Officer, Executive Director, Divisional Director at Sampars, Corporate Planner, and Finance Director.
This leadership change reflects Derrimon’s commitment to strong corporate governance and its strategic decision to separate the roles of Chairman and CEO. It also marks an important milestone in the company’s journey as Derrick Cotterell, the visionary who has led Derrimon for 26 years, remains in the position of Executive Chairman.
“Ian has been a cornerstone of Derrimon’s success, and I am confident in his ability to steer the company to even greater heights,” said Derrick Cotterell, Outgoing CEO. “In my role as Executive Chairman, I will focus on strategic oversight and governance to ensure Derrimon’s continued success.”
As Founder and CEO, Mr. Cotterell transformed Derrimon from a small trading operation into a diversified enterprise spanning retail, distribution, manufacturing, and logistics. Under his leadership, Derrimon became an industry leader in the Jamaican marketplace, known for its innovation, customer focus, and operational excellence. Mr. Cotterell’s journey is a testament to his entrepreneurial spirit, visionary leadership, and commitment to excellence. His contributions have been instrumental in shaping Derrimon’s legacy and creating a strong foundation for future growth.
Ian C. Kelly, CD, a seasoned leader and integral member of Derrimon’s executive team, has played a pivotal role in the company’s remarkable growth and success. Over the years, his notable achievements include:
- Leading Derrimon’s initial public offering (IPO) in 2013, which marked a significant milestone in the company’s history.
- Spearheading multiple mergers and acquisitions, including the acquisition of Spicy Hill, Arosa, Caribbean Flavours and Fragrances, Woodcats, and the international purchase of Food Savers in New York, which was recently rebranded as Sampars New York. These strategic moves have positioned Derrimon as a competitive force across industries.
- Securing funding for transformative projects, including the J$4.076 billion Additional Public Offering (APO) in 2021, enabling Derrimon to expand its operations and solidify its market leadership.
Speaking on his new role, Ian C. Kelly expressed gratitude and optimism, “I am deeply honoured to accept this role and to continue building on the incredible foundation laid by Mr. Cotterell. His stewardship over the last 26 years has been instrumental in shaping Derrimon into the industry leader it is today. I look forward to leading the team as we embark on this exciting new chapter.”
This announcement comes on the heels of Derrimon’s 25th anniversary, a testament to its legacy of innovation and growth. As the company enters its next phase, it remains committed to expanding its footprint and delivering value to customers, shareholders, and stakeholders.
Derrimon Trading Company Limited is a leading Jamaican enterprise operating across retail, distribution, manufacturing, and logistics. With a diverse portfolio of brands and a commitment to excellence, Derrimon continues to set the standard in the marketplace.
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