The release on Sunday, July 21, of a statement from the Caribbean Development Bank (CDB) announcing that the former St. Lucian-born President, Dr. Hyginus ‘Gene’ Leon, had “ceased to hold the office of the presidency of the Bank” following the conclusion of an “internal administrative process” had about it the same undertone of guardedness that has attended the disclosure back in April that Dr. Leon had been placed on administrative leave as “an ongoing administrative process,” the substance of which remained undisclosed at the region’s most important financial institution.
Shortly thereafter, an April 23 Caribbean Media Corporation (CMC) report disclosed that Dr. Leon had resigned from the presidency of the Bank “with immediate effect” and that he had posited the view, reportedly asserting that he “will never be treated fairly by the Bank.” One standout feature of the probe centred on the former CDB President is that the specifics of the decision by the CDB to remove its former President from his post have not, up to this time, been the subject of official disclosure.
On Sunday, July 21, the Barbados Nation broke the news, in a four paragraph statement, that the CDB said its Board of Governors had “taken note of the closure of the internal administrative process” involving Dr. Leon and that “in accordance with the Agreement Establishing the Caribbean Development Bank, the Vice President (Operations), Isaac Solomon, will continue to exercise the authority and perform the functions of president until a new president is elected.” The Nation also quoted the CDB as saying that “the process for the election of a new president has commenced and the Board of Governors has been invited to submit nominations for the position of the president of the bank by August 26, 2024. It is expected that the election process will conclude in October 2024,” the Nation pronouncement added.
The saga of the acerbic clash between the former CDB President and the institution may well have further episodes given the disclosure of a “three page letter” by his Attorneys reportedly alleging violations of the Bank’s Charter.
