The West Indian Company Limited (WICO) Board of Directors has announced the appointment of Joseph Boschulte as president and chief executive officer following its September 26 meeting at company headquarters on the WICO Dock.

The Consortium first reported in February 2025 that Boschulte had been selected by the WICO Board, a development that sparked questions about his eligibility for the role. Under local law, individuals who serve on a board are generally barred from taking a paid leadership position within that same entity until a full year has passed after stepping down. In August, however, Senate assistant legal counsel LaVerne Mills-Williams issued an opinion addressing that concern.

Mills-Williams explained that the law restricting board members from being hired by the same board within one year of leaving it may not apply to WICO. She based this on how the law is written. In Section 65d of the Virgin Islands Code, Subsections (a) and (b) explicitly mention “independent instrumentalities,” which are semi-autonomous government entities like WICO. Those subsections deal with felony convictions and clearly apply to WICO and other instrumentalities.

But Subsection (c), the part that covers employment restrictions, does not include the words “independent instrumentalities.” Instead, it only states that a person cannot serve on a board and work for that board at the same time, and that a person cannot be hired by a board within one year of serving as a member of that same board. Because the wording in Subsection (c) does not specifically extend to independent instrumentalities, Mills-Williams concluded it is arguable that WICO is not bound by that restriction.

Boschulte is no stranger to the position, having previously served as WICO’s President and CEO from 2012 to 2017, and later as chairman of the Board of Directors from 2019 until April 21, 2023. His selection marks a return to leadership at one of the territory’s most significant economic drivers. 

Most recently, Boschulte served as the V.I. Dept. of Tourism commissioner from January 2019 through July 2025, a tenure that oversaw record visitor arrivals, strong post-pandemic recovery, and sustained growth in the territory’s tourism industry. His career also includes roles as chief financial officer of both the V.I. Water and Power Authority and the Government Employees’ Retirement System. He has chaired the V.I. Public Services Commission and continues to sit on the V.I. Port Authority Board.

During the meeting’s general session, Interim President and CEO Charlene Turnbull presented a detailed update on WICO’s operations. For fiscal year 2025, 279 cruise ship calls and approximately 956,000 passengers are projected, including an additional call from Royal Caribbean and two cancellations due to weather. Looking ahead, 368 calls are estimated for FY 2026, with passenger counts expected to remain above one million despite five scheduling conflicts pending resolution. For FY 2027, 316 calls have already been scheduled, with several cruise lines submitting future itineraries.

Turnbull said WICO is actively working to maximize berth usage during off-peak days, particularly in the summer and fall months, to sustain growth and diversify scheduling.

She reported that regular anti-corrosion maintenance of WICO’s marine infrastructure remains a top priority. Phase 2 of the bulkhead fender adjustment project is currently underway to address damage caused by new ship hull designs. Additionally, the Department of Planning and Natural Resources has approved a permit for installing a bypass pipe along the dock, with preliminary steps underway to generate a bid package.

On the commercial side, negotiations are ongoing to lease a warehouse vacancy, while another lease has been finalized for a food vendor in the northern parking lot adjacent to Beni Iguana’s. Paid parking at that site began September 15, 2025, at a daily cost of $10 from Monday to Friday, 7 a.m. to 6 p.m.

WICO will attend the Florida-Caribbean Cruise Association (FCCA) conference in October in San Juan, Puerto Rico, where representatives plan to strengthen relationships with cruise partners and pursue new itineraries in line with industry trends, according to a release issued Saturday.

To improve employee performance and morale, WICO said it will provide training programs, including “Effective Management Skills Training” for middle and senior managers and “Workplace Conflict Resolution Training” for all employees.

The company also paused to honor the memory of longtime employee Sustin Donovan, a Trade Helper in the CLM Department who served WICO for nearly 21 years before his passing on August 17, according to the release. Services celebrating his life are scheduled for September 30, with WICO granting administrative leave to employees so they can attend.

On the financial side, Finance Chair Hugo Hodge reported that WICO anticipates a return to normalcy in FY 2026. Software updates will consolidate lease management on a single platform and allow tenants to pay rent online, while accounting staff will undergo new financial software training this September.

WICO said it continues to position itself as a key destination in the Caribbean cruise market, focusing on filling berthing vacancies on off days, strengthening partnerships across industries, and diversifying revenue streams. The Charlotte Amalie Harbor Dredging Project is expected to address rising competition for larger ships from Caribbean ports that have expanded berthing capacity.

The board also discussed pending and potential litigation matters, trade secrets, personnel issues, and other attorney-client privileged topics during its executive session.