~ Say decision hasty, non-transparent ~

PHILIPSBURG--The Executive Councils of Saba and St. Eustatius chose to set aside their "arms-length" approach to utilities company GEBE and asked GEBE Shareholder Foundation Chairman Ralph Richardson to put on hold the process of recruiting two additional Managing Directors for the company.
The councils, in a joint letter dated May 25, contended that the shareholder foundation's decision was "overly hasty" and was being conducted in a "non-transparent manner."
The two councils concluded in a joint meeting on May 21that the Shareholder Foundation's decision would "significantly change the structure and operation of GEBE."
Saba and Statia also requested a full study "with the inclusion of all stakeholders, before further actions are taken"; an update on the procedure carried out by the Shareholder Foundation, specifically with regard to the voting process and the results; and the reasons the Shareholders had chosen to recruit two additional Managing Directors for GEBE.
It could not be ascertained by press time on Thursday whether the Shareholder Foundation, in which both Saba and Statia are represented, had responded officially to the joint letter and, if so, what the response had been. However, it is known that the recruitment process continued well into June when the positions were advertised.
It also remains unclear how the representatives of Saba and Statia on the Shareholder Foundation had voted regarding the decision to recruit two additional directors.
The Shareholder Foundation is allowed, through GEBE's articles of incorporation, to appoint a maximum of three directors. Once appointed, these three directors, including current Managing Director William Brooks, will form a Managing Board. The Supervisory Board of GEBE can then appoint one of the three directors as President of the Managing Board.