LOCAL HOTEL to motor car conglomerate, House of Issa has appointed two new senior managers to help revitalise the fortunes of the company.

The family-owned and run business has looked outside the family and appointed Englishman Trevor Horwell as the new chief executive officer (CEO) and Struan McKenzie as executive vice-president.

The move comes as speculation surrounding a possible new investor in the group was rife in local business circles this week. Neither the new managers or Issa family members would comment on suggestions that a large Malaysian investor was looking at taking a stake in the company.

In June 1998 the Financial Gleaner reported that CEO, Christopher Issa would stand down and return to running his own business interests. Although making way for Mr. Horwell, Christopher Issa will remain as co-chairman together with his cousin Paul Issa.

One of the key tasks of the new executives is likely to be the continuation of the restructuring exercise, which has been moving at pace in recent times.

The company remained tight-lipped this week and details of its performance were difficult to ascertain as the last annual returns at the Registrar of Companies were dated in 1997. What is known is that a $200 million debenture over the assets of the company was agreed with the Bank of Nova Scotia Jamaica on 13 August 1999.

The House of Issa was founded over a hundred years ago and began life as a wholesale business transforming later into a retailing house (Issa's Of King Street). Today the conglomerate includes, House Of Issa Ltd.(finance and banking), Issa Hotels and Resorts Ltd., Couples Ochio Rios Ltd., Motor Sales and Service Company Ltd. and Prestige Motors Ltd.