PHILIPSBURG:--- On November 16, 2013 the tenure of the first Corporate Governance Council comes to an end. The last act was to complete the 2013 Annual Report over the period January 1 2013 to November 16, 2013. The report contains a detailed list of the tasks performed during the reporting period and a chapter setting out the concern the council members have for the future in light of the three integrity investigations. The report further contains recommendations for improvement by government on corporate governance matters. The annual report will be disseminated to amongst others the Prime Minister, the Governor, Parliament, the Advisory Council, the General Audit Chamber, the Social Economic Council, the Ombudsman, CFT and SOAB.
The Corporate Governance Council recognizes the critical challenges associated with good corporate governance and that insufficient routine has been built up in dealing with the procedures of good corporate governance. To the end of the tenure a huge backlog of matters remains that requires action. The Corporate Governance Council recommends investment in and execution of the Plan of Action they submitted to government in 2010, and up-dated recently.
Louis Duzanson, Chairman of the Corporate Governance Council states that recently an increased awareness of the need to comply with the legal requirements set out by the Ordinance Corporate Governance could be seen. Reporting on the experience of the Corporate Governance Council he reports that: "Based on interaction with other government advisory institutions, it is clear that their experience bears some resemblance to the experience of the Corporate Governance Council. Shining the spotlight on where good governance is lacking is not a popular act, but an eminently important one to mature as young country. This shared experience led to a profound wish of the Corporate Governance Council to improve things and the determined approach, resolve and engagement of the members of the Corporate Governance Council in the execution of the task entrusted to us".
On the eve of the termination of the tenure of the first Corporate Governance Council the Chairman wishes to express on behalf of all of the council members the heartfelt gratitude and appreciation to all persons and authorities with whom the Council worked during its tenure. "We had the privilege of the assistance of legal and financial specialist who assisted us at no cost other than investment of their time, not demanding any credit for what they did. We owe a special thanks to them. Together we have done our utmost to meet the challenges and execute our tasks as required by the legislative framework."
A special word of thanks goes to former minister of finance Mr. R. Tuitt, who took it upon himself to make sure together with his cabinet staff that the backlog in approval of the 2010 to 2012 budgets of the Corporate Governance Council was dealt with and that funds were made available. This leaves only the 2013 budget as an open item, which we trust will be dealt with in good order.
The Corporate Governance Council wishes its successors courage and fortitude to continue with the legacy they leave behind.
And last, but not least, the Corporate Governance Council wishes the Sint Maarten Council of Ministers and Parliament, both current and future and whatever the political constellation may be from time to time, the confidence and political courage needed to guide our young country on the voyage towards ensured integrity, throwing away the shackles of willful blindness and earning the political legacy as leaders of a truly free and united nation.
CGC Press Release