On Wednesday, June 2, both the Princess Juliana International Airport Operating (PJIAE) and Holding Company (PJIAH) were invited to an information session as an introduction to the implementation of the Corporate Governance Improvement Plan for the Airport.
The virtual sessions were opened by the Prime Minister Silveria Jacobs, who, while still in the Netherlands, emphasized the value of good governance now and in the future.
The members of the Implementation Team, Miguel Alexander and Professor Kunneman, both experts in the area of Corporate Governance, provided insight into the Corporate Governance Improvement Plan, its implementation, and the milestones achieved thus far.
The sessions were each concluded with a Q&A moment during which the Managing Board and the Supervisory Board of Directors of the PJIAE, and the Supervisory Board of the PJIAH were provided the opportunity to raise questions. Further, follow-up sessions between the PJIAE and PJIAH and the Implementation Team will be scheduled to be able to go more in-depth in specific elements of the Improvement Plan.
The Corporate Governance Improvement Plan for the Airport of Sint Maarten is one of the Country Packages, better known as B15. This plan stipulates the steps, decisions, and actions that must be taken to improve the corporate governance structure of the airport and secure good corporate governance.
The Improvement Plan, which was approved in the first quarter in 2021, found its basis in the Corporate Governance Assessment report issued by the World Bank upon request of the Steering Committee of the Sint Maarten Recovery, Reconstruction, and Resilience Trust Fund.
The Council of Ministers commissioned an Implementation Team consisting of the members Miguel Alexander, Professor Frank Kunneman, Joane Dovale-Meit, and Roland van den Bergh, to execute the Improvement Plan.
To ensure proper and timely execution and full cooperation, all stakeholders have to endorse a mandate to this team in which the basic requirements for an effective execution are stipulated.
Both sessions with the Airport concluded positively in which all stakeholders present pledged their commitment, collaboration, and cooperation during the term of the project, which timeframe is estimated at 12 months.
A similar information session will be scheduled for the Corporate Governance Council, which as part of the same B15 will be strengthened by establishing it as a foundation, with a two-tier structure (management and supervisory board) and three distinctive units: an advisory unit, assistance/support unit, and an educational unit.