WEE FM News Desk has been made aware that the President of the Barbados-based Caribbean Development Bank (CDB), Dr. Hyginus ‘Gene’ Leon, has resigned from the regional financial institution with “immediate effect”.
According to a three-page letter sent to the bank by his St. Lucian-based lawyers, Dr. Leon is of the opinion “he will never be treated fairly” after being sent on administrative leave in January.
It was disclosed that Leon had been sent on administrative leave until April this year as “an ongoing administrative process” continued at the financial institution.
The CDB has had nothing much to say about the
decision, with the acting president, Isaac Solomon, confirming there’s an internal administrative process involving the president.
REPORT:
News watchers have been following this development closely.
And, we refer to an article by the Caribbean Media Corporation which showed that Dr. Leon’s lawyers believe there’s the evidence of the Bank losing all trust and confidence in the CDB President by the failure of the Board of Governors to prevent the continued violations of its Charter, policies, rules and regulations with regard to its elected President.
In February, as outlined by the Caribbean Media Corporation, Antigua/Barbuda Prime Minister Gaston Browne, who was attending the Caribbean Community (CARICOM) summit in Guyana, said concerns had been raised about the method used to send Dr. Leon on administrative leave.
And we understand that hours after Dr. Leon’s leave expired, he received notification of a leave extension and there’s been the view that some investigation was being conducted, which the lawyers described as bare and non-specific., but grave and serious allegations.
They scoffed at the conduct of the investigation being “unconventional”, and does not follow due process, neither adhere to the best practices reflected in the more established multi-lateral development banks.
The lawyers see the situation as being “wrongful”.
As things are now, a resolution looks a little far off.
Leon is the sixth president of the regional financial institution, having been elected at a special meeting of the CDB Board of Governors January 19, 2021, for a five-year term, and assumed office on May 4, 2021.
Leon, with wide-ranging experience, headed a team of more than 200 employees.
He succeeded Jamaican-born Dr. Warren Smith who retired in 2021, after serving as president for 10 years.
