Dr Hyginus ‘Gene’ Leon has resigned from his position as President of the Caribbean Development Bank (CDB) with immediate effect, bringing an abrupt end to his tenure leading the regional multilateral institution.
The resignation comes three months after Dr Leon was placed on administrative leave by the CDB, though the precise reasons for the move have not been officially disclosed.
In a three-page letter sent to the bank by his attorneys, Dr Leon argued that he would “never be treated fairly” by the institution.
His legal team gave the CDB until May 4 to negotiate an amicable separation agreement, stating the letter should be seen as a pre-action protocol regarding the situation.
The CDB has remained tight-lipped about the circumstances surrounding Dr Leon’s administrative leave, only confirming in February that there was an internal administrative process involving the President.
Dr Leon’s attorneys have criticised the bank’s Board of Governors for failing to respond to complaints about the initiation and continuation of the investigation against him, arguing the conduct violates various bank policies and its Charter.
Antigua and Barbuda’s Prime Minister Gaston Browne previously raised concerns about subordinates taking disciplinary action against their superior without consulting directors or governors when he spoke at the Caricom summit in Guyana in February. PM Browne declined to comment on the matter when approached by Observer yesterday.
According to his lawyers, Dr Leon’s suspension ended on April 14 and he attempted to return to work the next day.
However, he faced obstacles accessing the bank’s facilities and equipment necessary for his duties.
A Washington DC law firm indicated the Board of Directors had been set to meet on April 16 to determine whether to extend Dr Leon’s paid administrative leave pending the investigation’s conclusion.
Dr Leon, who served as the sixth CDB president after being elected in January 2021 for a five-year term, brought over 20 years of experience from the International Monetary Fund.
His resignation leaves the regional financial institution to navigate appointing new leadership amidst the unresolved controversy.