Eustace Monrose To Quit SLBC
The embattled Chairman of the St Lucia Banana Corporation, Eustace Monrose is calling it quits.
Mr. Monrose announced Thursday that he will not be seeking re-election to the board of the SLBC.
The announcement follows months of wrangling between Mr. Monrose and a group of SLBC shareholders for control of the company.
Nevertheless, the out-going Chairman has extended an olive branch to the disgruntled shareholders, in an effort, he says, to maintain the stability of the corporation.
"In the absence of the members accepting this olive branch that I'm giving over to them, then I will have to take another decision as to what I do next," Mr. Monrose said.
A forensic audit is currently underway into the operations of the corporation.
It's expected to account for 3.6 million dollars that was allegedly paid to SLBC for distribution among shareholders.
Mr. Monrose says the auditor is highly regarded in the industry.
He's also calling for the removal of a specific clause in the corporation's by-laws which allows farmers to become SLBC shareholders even though they do not sell all their fruit to the company.
That clause was installed at a stormy shareholders meeting last month.