Response to Media Reports Concerning ACU

612

 

Willemstad / Philipsburg – The Centrale Bank van Curaçao en Sint Maarten (CBCS) has noted the media attention surrounding ACU following the announced resignation of ACU’s Supervisory Board.

The CBCS considers it in the interest of ACU to announce the following.

As is known, the CBCS is monitoring developments at ACU and the Bank has appointed trustees aimed at modernizing and improving governance and business processes, partly in response to internal conflicts at ACU that led to unrest.

Progress has been made with the support and commitment of the trustees. Various business processes have been improved and professionalized. In terms of governance, ACU adopted a new and clear framework during the general meeting held on March 7, 2021.

The CBCS supports the new framework.

The Supervisory Board’s decision to resign does not need to prevent the organization from pressing forward on the path taken towards a future-proof ACU. With the support of the trustees, the new governance structure will be fleshed out in accordance with laws and regulations, the principles of good corporate governance and the cooperative idea.