PHILIPSBURG:— The shareholder representative had intended to hear the three members of GEBE Supervisory board of directors on Thursday May 12th 2016, but that meeting was canceled and the hearing will take place later in May. SMN News understands that the shareholder is not obliged by law to hear the three board members because it is not stated in the company’s article of incorporation. However, they will follow the advice of the Corporate Governance Council and hear the three board members whom it is said will go down fighting. According to the company’s articles of incorporation the shareholder must hear statutory directors they intend to dismiss from their positions and not members of the supervisory board of directors.
The shareholder also intends to appoint the Chief Executive Officer (CEO) William Brooks and the Veronica Webster Jensen as Chief Operations Officer (COO). SMN News learnt that the appointments will be made with special conditions since the two persons have to be vetted by VDSM which will take some time. The conditions government intends to set is in the event the any of the two persons does not pass the screening process, then they have to vacate the position immediately.
The Corporate Governance Council had requested more information from government for Webster Jensen in order for them to give government the green light to appoint her to the position of COO.
In an invited comment Minister Angel Meyers said he did not provide the extra information as yet to the CGC but he intends to provide the extra information along with a motivation letter shortly.
Source: St. Martin News Network
EXCLUSIVE: Hearing for GEBE board Members canceled, will be heard even though shareholder not obligated to hear them —- CEO and COO to be appointed on conditions.