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| Genevieve Jodhan, CEO |
Genevieve Jodhan, CEO of Laventille-based rum
and bitters producer Angostura Holdings, joined Angostura in 2007, having
worked in the logistics and supply chain industry. After spending almost 10 years in the
group’s export and marketing teams, she became acting CEO in 2016, when Robert
Wong went on leave, and then took up the role permanently in February this
year. Reports speculated that Wong left the group amid controversy, claiming
that Angostura’s rums were “under audit”, and accusing the group of “buying
bulk rum” then repackaging it for sale “in breach of the EU’s rules of origin”.
As such, the reports also called into question Angostura’s rum age statements.
All such criticisms were refuted by
Angostura, and a review of internal processes found that all was “in order”,
citing compliance with internationally accepted manufacturing standards. Jodhan
says that “ironically” the criticism followed efforts to “improve” processes
before an ISO recertification. “We implemented more stringent internal audit
processes to identify process and paper trail disconnects and gaps,” she says.
“Closing those gaps and streamlining our processes meant we had to make
changes, structurally at the management level. Organizational changes are not
easy, and this resulted in some negative publicity.”
A media storm is not an easy challenge to
mitigate when one starts a new job, but Jodhan was enthusiastic about her new
role, nonetheless. With her appointment, she became the first woman to lead a
large Trinidad and Tobago company outside of the energy sector. Jodhan says cultivating a diverse workforce
is one of her priorities, and stems from discussions that took place in the mid
1990s when she worked for 3M. “With our marketing team in Angostura, we have
swung totally the other way,” she laughs. “Now our marketing department is made
up of 80% women. But it’s more about
competency and equality, rather than a ‘let’s only hire females’ attitude.”
Jodhan says her main goal is to elevate
the international status of Angostura’s rums and recently launched amaro
expression. While Angostura Aromatic Bitters is the
world’s bestselling bitters brand and a back-bar staple, the footprint of
Angostura’s rums outside of its domestic market pales in comparison. “We make the best-known aromatic bitters in
the world, but hardly anyone knows about our exceptional rum and the Amaro di
Angostura,” she says. “So my focus is on accelerating brand building to increase
the awareness of the rum and the amaro, and to maintain the position we have in
bitters. I want us to be recognized as the world’s leading premium heritage rum
brand. That’s my passion.” Jodhan
admits that the brand name ‘Angostura’ has become synonymous with the bitters
category, presenting a further challenge in establishing its rums. But, she
adds: “That name opened the door for our rums because we do make high quality
bitters.” Despite the international
prevalence of its bitters, Angostura’s rums are the company’s “number one line
of business”. In 2016, Angostura redesigned its international rum range to
communicate its heritage and assert a modern point of difference.
When Amaro di Angostura launched in 2014,
it marked the company’s first venture into a new spirits category in its 190-year
history. The new product has “leveraged on the bitters portfolio”, according to
Jodhan, with its similar yellow design cues. It uses Angostura Aromatic Bitters
as a base, and combines additional spices and neutral alcohol. As Angostura’s
stable begins to diversify, is there a possibility of acquisitions on the
horizon? “Of course,” Jodhan answers, without divulging any further details.
Angostura will also “evolve” its rum portfolio with “different cask finishes”
and “develop more complex spirits,” she says.
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| Angostura Column Stills |
Based on a 20-acre complex, Angostura’s
distillery has long supplied third-party rum stocks. However, the company made
a “strategic decision” in the third quarter of 2016 to reduce its bulk rum
production after a project to upgrade its waste-water-management facilities
“didn’t work out as well as we hoped,” says Jodhan. “We started to scope out
and ask, how can we produce responsibly? And we realized that we needed to cut
back production and make some changes. That led us to look at the entire
business model to see where we want to be, then reposition the company for the
future.” Angostura has maintained some key supply
contracts, but will reserve greater distilling capacity for its own brands.
This change in production strategy has also allowed Angostura to speed up its
premium trajectory, focusing more on value than volume, says Jodhan. “We don’t
just think it will happen, we intend to make it
happen.” However, she adds: “The future
of rum lies in all categories, and mainstream rums are here to stay. But there is an untapped market at the top
end that is wide open, and I think rum will continue to push into areas once
reserved for whisky.”
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| Angostura Aging Bodega |
Angostura’s rum portfolio is
divided into ‘international rums’ – its premium heritage-driven expressions –
and ‘Trinidadian jewels’ – rums not branded as ‘Angostura’ that dominate the
domestic market. As part of a -year strategy that started with the redesign of
the international rums portfolio, Jodhan says Angostura may consider expanding
international distribution of its ‘Trinidadian jewels’. “We are looking at how we can move forward,”
Jodhan says. “This happens to all companies, and we are looking at what our 10-year
ageing plan will be, and what that range should be. By January we should be announcing some
additions or deletions. But it’s not anything that we are scared of.”
On Angostura’s website, the firm says it
wants to be the “most profitable rum company in the Caribbean and continuously
improve our position as the largest aromatic bitters company in the world”. But
Jodhan says a new ambition will be set in motion. “We have achieved our
previous vision. We want to look at the brand portfolio: how we can realign;
how we can invest in people and develop talent; then look at any opportunities
we may have missed in Trinidad and Tobago.”
One thing that will not change at
Angostura, Jodhan says, is the focus on heritage and innovation. “I am
fascinated by two almost contradictory threads that define us as a business,”
she says. “The House of Angostura is steeped in tradition but we are absolutely
driven to innovate. We constantly look at process, packaging and product
innovation. Our blenders are continuously looking at new ageing and rum
finishing techniques. It is tremendously exciting to live and work at the
intersection of these two phenomena.”
