Top engineer Vince Ingham will become the first black chief executive officer of Belco Holdings Ltd. when current current CEO Garry Madeiros steps down at the end of 2007.

Belco announced yesterday that Mr. Ingham, now executive vice president, will take over on Janaury 1, 2008.

Mr. Ingham and Mr. Madeiros have served as partners on the executive management team for the last 14 years so the transition should be prove to be smooth, Belco said.

Mr. Madeiros has been at Belco since 1985, becoming its president and CEO in 1994. He also became president and CEO of Belco Holdings Ltd. in 1995 when it was established and a director in 1997.

?Mr. Madeiros has made a significant contribution to the success of our organisation,? said chairman Michael Collier.

?Through his leadership and vision, Belco has clearly demonstrated that it is a responsive, proactive, committed and responsible company.

?We are clearly appreciative of his dedication to the company?s mission.?

Mr. Ingham, a director of Belco Holdings, has spent the bulk of his career at Belco. He joined the company in 1972, leaving in 1980 to join Conyers Dill & Pearman as corporate manager, then returning to Belco in 1986 as senior mechanical engineer.

?I am very pleased that Mr. Ingham has agreed to serve as Belco?s next president & chief executive officer. I know that he will provide tremendous leadership to the company,? Mr. Collier said.

Mr. Ingham was promoted to to vice president, Engineering and operations in 1993. In January 1994, he was appointed senior vice president, then executive vice president on April 1, 1997, and was named to his current post on December 1, 2001.