Wayne Yip Choy, once a leading figure in Trinidad and Tobago’s manufacturing sector and former head of several popular local brands, died by suicide yesterday.
Police said they believed he died at his home in Westmoorings around 2 p.m.
Yip Choy began his career in 1976 as managing director of Sweetheart Cakes Ltd, which was later renamed Kiss Baking Company Ltd.
He also served as managing director of Caribbean Development Company and was a former president of the Trinidad and Tobago Manufacturers’ Association.
His tenure as chief executive officer of Angostura Holdings Ltd remained one of the most defining chapters of Yip Choy’s career, largely due to the circumstances surrounding his departure.
Yip Choy was appointed to lead Angostura in the aftermath of the 2009 collapse of CL Financial Ltd, at a time when the company was burdened by significant debt.
He was credited with playing a key role in its turnaround.
His tenure ended in 2011 following a dispute over performance-based compensation, including a bonus tied to the company’s financial results. Yip Choy maintained that the payment—estimated at about $20 million—was justified based on the company’s performance.
The dispute led to legal action, culminating in a High Court ruling in his favour.
In a judgment delivered by Justice James Aboud, Yip Choy was awarded $28 million in compensation after a protracted legal battle with Angostura.
Yip Choy also served previously on the boards of Readymix and Trinidad Cement Ltd.
