GERS Mulls Turning Havensight Back to WICO

With changes to the West Indian Company’s leadership team finalized, members of the Government Employees’ Retirement System’s board of trustees on Friday discussed giving the agency another shot at managing the Havensight Mall.

WICO had run the mall on behalf of GERS since it sold the property in 1993, but board members decided last January to put out a Request for Proposals for other interested property managers, and in June 2010 entertained proposals from at least one new bidder. Since then, WICO has continued to manage on a month to month basis, with the last extension expiring less than two weeks ago.

GERS board members broached the issue during an executive session at its monthly board meeting Friday, with board chairman Raymond James explaining afterward that members were interested in hearing what WICO’s new management team had to say about continuing the contract.

WICO released a statement Friday afternoon that former President and Chief Executive Officer Edward Thomas Jr. had retired after 17 years at the helm, effective June 30.

Andrea V. Smith, WICO’s vice president and treasurer, will be stepping in as acting president and CEO, while Gershwain Sprauve, WICO’s former corporate secretary, will take over as chief operating officer.

St. Claire Williams has taken over as the acting chair of WICO’s board, while Tourism Commissioner Beverly Nicholson-Doty and Lubin Roberts have been appointed to serve a three- and two-year term, respectively. The appointments were recently approved by the Public Finance Authority’s board of directors, which oversees WICO.

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