Tasked to Review Government Owned Companies
The Prime Minister of St. Maarten the Honorable Sarah Wescot-Williams met with the new members of the Corporate Governance Council (CGC) at her Cabinet last week. The PM met and discussed various matters concerning the CGC and the management of, amongst other things Government Owned Companies, with new CGC members Madelon Dijkhoffz, Perry Wilson, and Joseph Lake. The PM mentioned that the term of the previous CGC was up and that the three new members will be supported by an additional two members in the coming days; “The Corporate Governance Council has been installed by National Decree and this has been done. Matters pertaining to Corporate Governance Council have been established by law and one of the most pressing issues that needs to be looked at and has to be reviewed are for example issues related to the Board of Government Owned Companies and their Managing Directors. The previous CGC Board has expired and we went through the process of installing a new Council, a lawful body that looks at certain conditions with regard to good corporate governance. There is also a corporate government code according to which government owned companies must adhere to. Especially given the fact that we did not have a CGC for a while there is much work that needs to be done,” commented Prime Minister Wescot-Williams.
