CDB yet to elect new president
Published:Friday | October 11, 2024 | 6:41 PM
BRIDGETOWN, Barbados, CMC – The Barbados-based Caribbean Development Bank (CDB) on Friday confirmed that efforts are continuing to name a new president for the financial institution following the controversial resignation of the St Lucia-born economist Dr Hyginus 'Gene' Leon in April.
Informed sources told the Caribbean Media Corporation (CMC) that a meeting of the bank's governors had taken place on Thursday to select the replacement for Leon, who is now leading the effort in establishing the Development Bank for Resilient Prosperity Initiative.
The sources told CMC that three candidates from Trinidad and Tobago, Barbados and the Bahamas have been shortlisted and that the meeting on Thursday ended without the nod being given.
In a one-paragraph statement to CMCC, the CDB said “The Caribbean Development Bank is still awaiting the completion of one of the external due diligence reports and will proceed with the election once that has been received. The selection of the new President will be announced once the election has concluded”.
It did not elaborate.
In his letter of resignation, lawyers for Leon, had given the region's premier financial institution until May 4 this year “to negotiate an amicable separation” indicating also that their correspondence should be viewed “as our client's pre action protocol letter” regarding the entire situation.
Neither the CDB nor Leon and his lawyers have made any statements on the issue since then.
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