Saturday, Sep 21st

LATEST:
You are here: Islands Islands News James chosen as a GEBE director, but appointment remains in limbo

James chosen as a GEBE director, but appointment remains in limbo

page1b164PHILIPSBURG--The Shareholder Foundation of GEBE made a decision to appoint former Director of Resources for St. Maarten Jean James as the second Managing Director of the company to serve with current Managing Director William Brooks.

However, while that decision was made by a majority of the foundation's board members (3 out of 5), it still has to be ratified in a meeting at which all five board members of the foundation are present, which, based on the position of Saba and Statia against additional Managing Directors, has kept James's appointment in limbo.

According the articles of incorporation of the foundation, decisions cannot be ratified unless all members of the board are present or if they give their vote by proxy. In other words, the representatives from Saba and Statia, with their veto power, simply have to stay away from meetings to render the foundation powerless.

Initially, the foundation wanted to appoint two new Managing Directors in accordance with the articles of incorporation of GEBE. However, after a PricewaterhouseCoopers (PwC) study was commissioned on the insistence of foundation members who are of the opinion that two new directors are unnecessary, it was deemed that one would be sufficient for the company.

The Supervisory Board of Directors, charged with the recruiting of candidates, submitted two names to the Shareholder Foundation to consider for the post. Saba and Statia were reportedly against both, claiming inexperience. The recruitment of the new directors called for a director with financial profile and a director with an operational management profile.

James is currently the owner and Managing Director of Capaz Consulting St. Maarten. He has an extensive background in financing, taxes, information management and reorganization processes throughout the islands that formed the Netherlands Antilles and in Holland.

The Executive Councils of Saba and Statia are not in favour of any new Managing Directors for GEBE and were against efforts to have Brooks removed as Managing Director last year. The two territories have stiffened their opposition with the announcement by Minister Theo Heyliger that he has initiated an arbitration process to fast track the division of shares of the company.

To break a possible decision-making stalemate, there is a clause that would allow the shareholder foundation to send a decision for arbitration which would allow both parties to argue their case for or against before a final decision is rendered.

If the foundation manages to appoint a new director, he or she will form a "Management Board" of two for GEBE. The supervisory board would then be tasked with appointing the President of this board who can represent the company on his or her own or with another member of the Managing Board.

Based on his contentious history with the Supervisory Board, it is highly unlikely that William Brooks will be appointed President of the Managing Board. The only way, reportedly, that Saba and Statia would accept a new director is if Brooks is appointed president.

Despite numerous attempts, Chairman of the Shareholder Foundation Ralph Richardson could not be reached to provide clarity or information on how GEBE will proceed.

Image
St. Maarten midday Weather Forecast for Saturday
Saturday, 17 October 2015
DATE ISSUED: Saturday, October 17, 2015 @ 12:00 LST (16:00 UTC) VALID UNTIL: Sunday midday (12:00... Read more...
Image
SHTA poll: Businesses want anti-ship-jumping legislation
Saturday, 17 October 2015
Click here for SHTA graph pdf PHILIPSBURG--The St. Maarten Hospitality and Trade Association... Read more...
Image
Dominica’s tourism sector ready to welcome visitors after TS Erika
Friday, 16 October 2015
ROSEAU, Dominica--“Dominica is open for business and ready to welcome visitors to its shores.”... Read more...
Image
Reparations Committee: Withdraw Queens’ names from Suriname’s highest mountains
Thursday, 15 October 2015
PARAMARIBO--Suriname’s National Reparations Committee NRCS has filed a request with President... Read more...
Image
Ex-US House Speaker Hastert to plead guilty in hush-money case
Friday, 16 October 2015
CHICAGO--Former U.S. House Speaker Dennis Hastert is expected to plead guilty in a hush-money case... Read more...
Image
Hillary Clinton to 'look hard' at Julian Castro as possible VP pick
Friday, 16 October 2015
WASHINGTON--Democratic presidential contender Hillary Clinton won the backing of Housing and Urban... Read more...
Image
Half a million Yemen children face severe malnutrition
Friday, 16 October 2015
GENEVA--More than half a million children in Yemen face life-threatening malnutrition as a risk of... Read more...
Image
Modi to open 70-year-old files in challenge to Gandhi dynasty
Friday, 16 October 2015
NEW DELHI--Prime Minister Narendra Modi says he will seek to unravel one of India's most enduring... Read more...
Image
Cuba in cash crunch due to low commodity prices, Venezuela woes
Friday, 16 October 2015
HAVANA--Low commodity prices, a drought at home and Venezuela's economic crisis have created a cash... Read more...
Image
Apple's newest courtroom foe is patent-savvy university
Friday, 16 October 2015
NEW YORK--As a veteran of the global smart phone wars, Apple is used to courtroom battles with... Read more...
Image
Focus needs to be on fighting crime & helping unemployed
Friday, 16 October 2015
Dear Editor, With all of the political situation on the island, we can't lose focus on some of the... Read more...
Image
Had enough
Friday, 16 October 2015
Dear Queenie, My brother died years ago but his widow stayed close to our family. Eventually she... Read more...
Image
RBC St. Maarten Little League School Tournament
Saturday, 17 October 2015
Sister Marie Laurence defeated Leonald Conner in the RBC St. Maarten Little League School... Read more...
Image
Nadal trounces Wawrinka, Djokovic tames Tomic
Friday, 16 October 2015
CHINA-- Former world number one Rafa Nadal displayed more signs of a return to top form with a... Read more...
Image
Junk shop photo spurs quest to confirm Billy the Kid image
Friday, 16 October 2015
DENVER--For the $2 he spent to buy three old photographs, Randy Guijarro may have hit the mother... Read more...
Image
Few signs of improvement for NBA star Odom after collapse
Friday, 16 October 2015
LAS VEGAS--Pro basketball and reality TV star Lamar Odom spent a third day hospitalized on... Read more...
Image
Bruney cruises into retirement
Friday, 16 October 2015
~ After three decade in cruise industry ~   By Alita Singh   Frank Bruney has seen tiny... Read more...
Image
ALL HANDS ON DECK, WE MADE IT!
Friday, 16 October 2015
~ Fair Transport Sailing Vessel Nordlys is launched ~   St. Maarten has been graced by the... Read more...
Editorial - Anybody’s guess
Saturday, 17 October 2015
Governor Eugene Holiday has decided to seek legal clarity on the current constitutional impasse.... Read more...
Editorial - Time is up
Friday, 16 October 2015
With so much ongoing constitutional turmoil, the fact that more than 100 people attended the... Read more...
Image
Saturday Oct. 17, 2015
Friday, 16 October 2015
Image
Friday Oct. 16, 2015
Friday, 16 October 2015
Notices October 16
Friday, 16 October 2015
General Meeting St. Maarten Professional Softball Association (SMPSA) general meeting for the... Read more...
Notices October 15
Thursday, 15 October 2015
General Meeting S.M.P.S.A. general meeting for the softball season 2016 will be held at Sundial... Read more...