Fijian Holdings Limited Renews GCEO’s Contract

Fijian Holdings Limited (FHL) is pleased to announce the reappointment of Mr. Jaoji Koroi, the Group Chief Executive Officer, for a further term of four years, effective from May 1, 2024.

The decision reflects the confidence of the Board of Directors in Mr. Koroi’s leadership and strategic vision.

Under Jaoji’s leadership, the FHL Group has achieved record revenues, 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-COVID19 levels with all subsidiaries in the Group contributing positively to the Group’s profitability.

In pursuit of FHL’s core purpose, 10% of its capital base has been allocated for investment alongside iTaukei businesses, while FHL continues to make targeted investments that maximize returns to its shareholders. FHL also diversified its funding sources, by successfully raising and listing Fiji’s first ever corporate bond of $30 million. With a progressive approach on staff engagement, the Group enhanced its employee medical and term life benefits to 80% of its participating subsidiaries, marking an improvement of nearly 80% coverage since 2021.

Mr. Koroi expressed his gratitude for the renewed trust and confidence placed in his leadership, stating, “I am honored 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”.

Rokoseru Nabalarua, Chairman of the FHL Group said “the renewal of Jaoji’s contract ensures stability and continued progress for FHL as we aim to build on our achievements and uphold our commitment to our shareholders. 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”.

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