Trinidad and Tobago’s industrial and manufacturing community is mourning the loss of one of its most prominent figures, Wayne Yip Choy, who died by suicide at his Westmoorings residence on Tuesday. Local law enforcement officials confirmed that preliminary investigations place the time of death around 2 p.m. local time.
Yip Choy’s 40-plus year career left an indelible mark on the nation’s business landscape, starting with his first major appointment in 1976 as managing director of Sweetheart Cakes Ltd. The small bakery operation would eventually rebrand to become Kiss Baking Company Ltd, one of the most recognizable household food brands across the twin-island nation. Beyond the baking sector, he went on to lead the Caribbean Development Company in the same top executive role, and also served a term as president of the Trinidad and Tobago Manufacturers’ Association, the leading industry body representing the country’s production sector.
Many industry observers point to his tenure at the helm of Angostura Holdings Ltd as the most high-profile chapter of his professional life. Yip Choy was brought in to lead the regional beverage and spirits conglomerate in 2009, stepping into the role immediately after the collapse of parent company CL Financial. At the time of his appointment, Angostura was saddled with massive unpaid debt and facing existential uncertainty, and Yip Choy was widely credited with steering the company through a successful financial turnaround that stabilized its operations and restored profitability.
His time at Angostura ended abruptly in 2011, however, amid a public and acrimonious dispute over performance-based compensation. Yip Choy claimed he was owed a $20 million performance bonus tied to the company’s improved financial results, a payment that Angostura’s leadership refused to authorize. The disagreement escalated into a lengthy legal battle that ultimately reached the nation’s High Court, where Justice James Aboud ruled fully in Yip Choy’s favor, awarding him $28 million in total compensation at the conclusion of the proceedings.
Outside of his core executive roles, Yip Choy also brought his decades of industry expertise to the boardrooms of two of the country’s leading construction materials firms, Readymix and Trinidad Cement Ltd, where he served as a board member for multiple terms. Tributes have begun to pour in from across Trinidad and Tobago’s business community this week, honoring Yip Choy’s decades of contributions to growing the nation’s manufacturing sector.