Stephen Todd took over the reins from Philip Barnett as president at The Chamber of Commerce's 102nd Annual General Meeting in front of 150 members at the Fairmont Hamilton Princess.

Also in the audience were Acting Premier Minister Elvin James and Opposition Leader Kim Swan.

Mr. Barnett thanked the members for their support during his tenure as president and said he looked forward to their continued support under Mr. Todd's leadership.

In his first address as the new president of the Chamber, Mr. Todd said: "Despite the challenges I face coming into this new position in a downward economy, I am up to the challenge and I look forward to working with the new management team. I would also like to call on the members to come together and support the Chamber and its efforts as we move forward."

Executive director Diane Gordon said: "Mr. Barnett has represented himself and the membership with distinction during a challenging tenure. It has been a pleasure to work alongside him. He has set the bar high for his successor, Stephen Todd."

The Chamber also welcomed its guest speaker Mr. Mick Fleming, president of the American Chamber of Commerce Executives, who talked about the plight of the economy and the need to find ways to move it forward for the sake of business.

He also spoke on the work other Chambers were doing in their community to help ease the crisis and reflected on some of his own personal experiences.