PHILIPSBURG--The shareholder of utilities company GEBE has asked the Supervisory Board of Directors of the water and electricity company to tender their resignations.
Supervisory Board Chairperson Rene Richardson could not be reached via phone for comment on Wednesday.
Finance Minister Richard Gibson told reporters at the Council of Ministers press briefing that Government had “lost confidence” in the board. He said the board did not conduct itself in a manner beneficial to the company.
The shareholder’s first step was to ask the board to resign voluntarily. Failure of the board to step down would lead to the shareholder seeking advice on dismissing the members.
“We have asked them [the board – Ed.] to tender their resignations and if not, we would verbalise the reasons in writing and ask the Corporate Governance Council for its advice as to whether or not we should proceed with dismissal,” Gibson said in response to questions at the weekly briefing.
He said there had been a “series of things” that had led to the shareholder losing confidence in the board, including the spreading of confidential information about the company “in the media left and right.”
Also, the Council of Ministers “doesn’t get the feeling that they’re executing their tasks the way it should be done and certain reports that should be sent timely are not being sent and a whole list of other things,” Gibson said.
