Stability Anticipated in NV GEBE. Managing Board and Supervisory Board of Directors Appointed

January 31, 2022 10:30 pm

The first General Shareholder?s meeting with N.V. GEBE of the year 2022 was held on Thursday, January 27. The main agenda points were the appointments of two new members to the Supervisory Board of Directors; the formalization of the appointment of the Chief Executive Officer (CEO); and the approval of the draft service agreements of each member of the Managing Board, namely the CEO, the Chief Financial Officer (CFO) and the Chief Operating Officer (COO).

The current members of the Supervisory Board of Directors (SBoD), which consists of the following members, Anastacio Baker, Chairman; Dimar Labega, Vice Chairman; Emanuel Brooks and Lela Simmonds, were appointed per October 19, 2021.

The main task of this SBoD was to ensure continuity and (financial) stability at N.V. GEBE. The company was not only

impacted by the COVID-19 pandemic but also the instability of management, which negatively impacted the functioning of N.V. GEBE and the morale of its workers.

The board was able to successfully finalize the negotiations for the draft service agreements with the candidates for the positions of a new Managing Board.

The Shareholder selected the candidates after careful consideration of the conclusions of the Ernst & Young Recruitment & Selection Report on the Management Board on the selection process and the advice on the most suitable candidates.

Both the Shareholder and the SBoD look forward to a fruitful working relationship with the approved appointments of Sharine Daniel as CEO; George P. Willems as CFO; and Merrill Temmer, who is currently the Temporary Manager, as COO of the Managing Board of N.V. GEBE.

The Shareholder foresees the draft strategic plan for which the Managing Board will be tasked with as priority. The plan should highlight alternative energy as well as ways and means to collaborate with other Government owned Companies as a cost saving measure for the country.

Furthermore, the Shareholder (Council of Ministers) emphasized the need to seek for a structural solution to deal with the high energy costs.

In addition to a new Managing Board, the SBoD will be further strengthened with two new members, namely Vanessa Fraser, who will fulfill the profile as Human Resource Expert, and Denniscio Boasman, who was a former N.V. GEBE SBoD member, and will be fulfilling the profile of Technical Expert. Both members

have been appointed for a term of four years, going into effect January 27, 2022.

The Minister of Public Housing, Spatial Planning, Environment & Infrastructure (Ministry of VROMI), Hon. Egbert Doran, who chaired the meeting, concluded by emphasizing the responsibilities of the SBoD vis a vis the Management Board and further stated that he looks forward to the continuation of the level of professionalism thus far provided and the progress needed ?to get GEBE where it needs to be?.