President of the Caribbean Development Bank, CDB, Dr. Hyginus ‘Gene’ Leon, has resigned with immediate effect from the regional financial institution.
According to a three page letter sent to the Bank by his St. Lucia-based lawyers, Leon is of the opinion that “he will never be treated fairly” after he had been sent on administrative leave in January.
The letter by his lawyers says it’s also evident that the bank has lost all trust and confidence in their client 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.
Leon’s lawyers noted that their client has therefore made the extremely difficult decision to resign his elected position of the President of the Bank with immediate effect.
The lawyers have given the regional financial institution until May 4 “to negotiate unamicable separation” indicating also that their correspondence should be viewed as their client’s pre-action protocol letter regarding the entire situation.
In January it was disclosed that Dr Leon, had been sent on administrative leave until April this year, as “an ongoing administrative process” continued at the region’s premier financial institution.
The CDB has remained mum on the circumstances surrounding the decision to send the St. Lucian-born economist on administrative leave, with the acting president Isaac Solomon, confirming at a bank news conference in February that…
