Is the SB setting up management board to fail?
PHILIPSBURG: --- The Supervisory Board members of GEBE has failed miserably by not taking their duties as members of the Supervisory Board to properly supervise the management board of the government-owned company.
GEBE Supervisory Board appointed the power plant former manager to Chief Executive Officer (CEO) knowing this person has failed over the years, employees at the power plant are fed up with his arrogance and as such chose to let the people feel their heat. Just recently the CEO of GEBE walked out of a meeting simply because he did not agree with the recommendations made by at least one member of the supervisory board.
To make matters worse GEBE Supervisory Board chose to appoint Veronica Jenson Webster as the Chief Operations Officer (COO) bear in mind that Webster a former member of the supervisory board, and a civil servant who worked with at least two former Ministers of VROMI. Even though GEBE fall under the Ministry of VROMI the former advisor to those Ministers has no educational background to manage GEBE power plant and laboratory. Jensen-Webster has no technical abilities and education while being appointed COO Webster is also in charge of GEBE laboratory and again one has to question what her educational background is and if she is capable establishing a proper and functioning laboratory for the utility company.
In January 2016, Jensen- Webster applied for the CEO position at GEBE and the Corporate Governance Council clearly gave a negative advice on the appointment stating that Jensen-Webster was lacking technical education and ability to be appointed CEO of the utility company. At the time the Minister of VROMI went against that advice and still appointed Jensen-Webster to the management board of GEBE, however, it is the task of the Supervisory Board to ensure that the management board members is appointed to positions where they could function optimally. It appears as though the Supervisory Board of GEBE chose to place the members of the management board in positions in order for them to fail. Already, the management board is showing their arrogance and so far been proven to be incompetent in executing their tasks.
While it is clear that some of these board members were basically set up to fail, at least one board member is extremely close to the management board and instead of supervising the board member is basically micromanaging.
It behooves the shareholder to look closely at the members of the Supervisory Board they appointed and to see if they have to reshuffle people that are putting the economy of the country in jeopardy with constant power outages while damaging appliances of residents. Seemingly, the Supervisory Board members some of whom are politically appointed to manage a vital government owned company do not realize that they can be held liable for their incompetence especially if the company or government should suffer by their actions.