Josaia Mar added another feather to his cap after taking over as the new chairman of Fijian Holdings Limited.

Mr Mar replaces founding chairman Lyle Cupit, who retired last week.

In a statement group managing director Sitiveni Weleilakeba said Mr Mar's appointment came in to effect on October 1.

Mr Mar was deputy chairman of the board before taking over from Mr Cupit.

He is chairman of the Fiji Electricity Authority and managing director of Telecom Fiji Limited.

Mr Mar was brought in from the FEA to oversee the review of operations at Telecom.

In announcing Mr Cupit's retirement, Mr Mar paid tribute to Mr Cupit's significant and invaluable contribution to Fijian holdings Limited and its subsidiaries tremendous growth from its inception in 1984.

"Under his guidance, FHL had paid out close to $44million in dividends to its shareholders and has grown its initial capital by over five times.

"That achievement is a testimony to his foresight and great leadership,"he said.

Mr Mar said under Mr Cupit's stewardship, the company had grown into what was now regarded as one of the leading listed company in Fiji, with Fijian Holdings Group net assets now over $191million and group profit in excess of $23m in 2006.

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