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CARANA to have new president, new role for current CEO in 2010


Eduardo Tugendhat, CARANA Corporation’s president and CEO for a decade, will hand over the title of president and day-to-day administrative duties to senior vice president Santiago Sedaca later this year. Mr. Sedaca, currently chief of party of USAID’s Productive Network project in Ecuador, which CARANA manages, will head the company’s technical and operations divisions. Mr. Tugendhat, one of CARANA’s founders, will remain CEO and board chairman while focusing on corporate and economic development project strategies, innovation, staff development and communications.

The leadership change underscores CARANA’s continuing investment in effective approaches to economic development, especially leveraging private investment and expertise to resolve constraints and accelerate growth. The company, which celebrated its 25th anniversary in 2009, recently launched six new projects in Central and South America and East Africa, encompassing a range of initiatives, including food security, market expansion, workforce development, and strengthening of agribusiness value chains. With the U.S. and international organizations examining approaches to development, CARANA will be a part of the conversation, demonstrating through results ways to reduce poverty and improve lives.

The change will take place by June 2010 when Mr. Sedaca completes his work in Ecuador. He joined CARANA in 2003 and was vice president for the Latin America and Caribbean region, where he successfully designed and managed USAID programs in international trade, competitiveness, enterprise development, micro-, small-, and medium-enterprise, and cluster development, including USAID’s Colombia Enterprise Development project and the Guyana Trade and Investment Support Project.

Mr. Tugendhat established the Washington area office in 1988. He has been president and CEO since 2000, overseeing CARANA's worldwide consulting and project implementation activities. Before joining CARANA, he spent eleven years with Arthur D. Little, Inc. as market manager for the Caribbean and Central America, and as a core member of the Economic Development Unit.

Published January 2010