Published On: Tue, Nov 6th, 2012

Mensche returns to Refineria di Korsou

WILLEMSTAD — The Council of Ministers wants to appoint Herbert Mensche as interim-director of the Refineria di Kòrsou (RdK) for a period of three months. The appointment was actually on the agenda during a special meeting of shareholders. However, the appointment was postponed because the Board of Commissioners of RdK has not yet responded to the letter sent by Minister of Finance José Jardim.

The meeting with the commissioners was to take place on Monday morning but they didn’t show up. The Minister of Finance still expects to receive a reaction from the Board of Commissioners.

According to the good corporate governance advisor, SBTNO, the shareholder can proceed to appoint an interim-director if they can’t reach an agreement. This can be done in anticipation of the definite appointment of the board of directors. Within this framework SBTNO therefore urgently advises to complete the current recruitment and selection procedure in order to make a definite arrangement.

Up to his retirement, Mensche was the director of the RdK. Considering the preliminary conclusions from government accountant’s bureau (Soab) on RdK, the Council of Ministers wants to replace the current board. The conclusions show that the continuity of the RdK could be at risk if urgent steps aren’t taken to withstand this adequately. Guaranteeing the continuity of RdK must take place by restoring the separation between the Board of Directors and the Board of Commissioners, Jardim stated. At the moment one of the commissioner is the acting director.

The unions of the oil refinery, PWFC and Apri (the staff personnel), support the intention. According to them, the situation threatens to get out of hand at the BOO energy plant, among others. Besides appointing Mensche as interim-director, the unions want to replace the management team of CRU, a subsidiary of RdK. Some candidates have been approached for this position already. The unions fear that the BOO will be unable to supply the refinery with water, steam and electricity.

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