Jamalov Named Money Czar

Cayman Islands, December 26 (Reuters) - APD's Grand Prix Circuit has appointed charter member Jamalov as Chief Financial Officer (CFO).  Jamalov will supervise the management of the group's assets and investments around the world.

This could not come at a better time for the group, which was hard hit financially in 2014 on many fronts, including legal expenses arising from the Moxie Festival incident in Maine, the costs of underwriting Alfred E. Newman's unsuccessful candidacy for FIDE President in August, and recent imprudent speculation in the world currency market, specifically the overbuying of rubles.

Jamalov's appointment came after several days of "intense negotiations" that extended through Christmas, according to a group source who insisted upon anonymity based on ignorance of the facts.

Among his duties, J will have control of the group's extensive stocks of foodstuff items, warehoused in locations on five continents.  These include Vegemite, Spotted Dick, Moxie soda, and Spam, and should make the group a "major player in world commodity markets," the source said.